Facebook will disclose extensive financial information or go public by early 2012 following a $2bn private fund-raising which values the social networking site at $50bn, according to people close to the situation.
The news is contained in a 100-page document sent to Goldman Sachs' clients looking to participate in the cash-call, the Financial Times reports. It is likely to trigger a frenzy of activity among investors, banks and other advisers keen to be involved in one of the most highly-anticipated listings of recent years. However, some financial commentators have criticised Facebook's $50bn valuation as "absurd" when compared to other companies with the same price tag, and are warning of another dot.com boom and bust. Supermarket group Tesco, also valued at $50bn, is expected to reco...
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