Facebook raises $500 million at $50 billion valuation

Facebook has raised $500 million of funding with its worth valued at $50 billion.

Investment bank Goldman Sachs ($450 million) and Russian Internet investment firm Digital Sky Technologies ($50 million) were the contributors, in a deal that values the company at $50 billion and could propel the popular social-networking site to an initial public offering, analysts say.

Goldman also will try to raise as much as $1.5 billion from its wealthy clients to invest in Facebook. Experts are of the opinion that with this deal, Facebook has come more closer to going public.

With Facebook comfortably sitting on the most precious of all resources -- the users, the money raised will allow Facebook develop more products, pursue acquisitions and pick off employees from other top Silicon Valley companies. --------

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