SOCIAL networking website Facebook has landed a cash injection from a major Wall Street bank which values the company at £32bn.
The business, which began as an internet geek’s hobby, has more than half a billion users worldwide. Goldman Sachs and Digital Sky Technologies, a Russian investment firm and existing Facebook shareholder, have invested in the site.
The company, founded by chief executive Mark Zuckerberg in 2004, has out-muscled Google in the past two years, overtaking its rival to become the mostvisited website last year.
The move places the company at twice the value of Yahoo. Google, by contrast, is valued at £122bn.
The move reflects the rapid speed at which the company’s valuation has soared. Venture capital firm Accel Partners paid less than £8m for ten per cent of Facebook in 2005.
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