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Facebook revalued after investment

January 4th, 2011, 8:44 am

Facebook has been valued at US$50 (€37.3) billion after receiving a new round of investment.

The funds from Goldman Sachs mean the social networking site is now worth more than giants such as Time Warner, eBay and Yahoo.

According to reports Goldman made an investment alongside Digital Sky Technologies of Russia with plans to offer its shares of Facebook to its clients via a special purpose vehicle.

The company has yet to disclose whether it has made a profit.

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