Facebook discloses the Money it raised so far

After keeping mum over its finances till now, Facebook has finally made the most revealing disclosure of its financial plans to date. Facebook Inc. said on Friday that it has raised $1.5 billion in investments and planned to start reporting its finances publicly by April 2012.

The disclosure is important as this signals that Facebook is moving closer to an initial public offering.

In the recent past, Facebook carried on with its expert keep mum policy, when published reports that surfaced as the new year dawned about a deal that would bring a $450 million investment from New York's Goldman Sachs Group Inc. and an additional $50 million from Digital Sky Technologies Inc. of Russia.

The first of its kind public statement on those reports, the disclosure confirms the investments were based on a company valuation of $50 billion. Also disclosed, is that Facebook had the option to accept between $375 million and $1.5 billion from Goldman Sachs, which planned to raise that money by selling shares of a special Facebook fund to select clients. --------

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