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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
