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Facebook gets $6.5 billion valuation with share sale
Posted on 14 Jul 2009 at 11:55
In the weeks prior to Monday's pricing, investors in secondary markets had been valuing Facebook common stock between $10 and $10.50 a share, or up to $4.7 billion, according to Adam Oliveri. a managing director of SecondMarket, which provides a marketplace for trading in private shares and other illiquid assets.
In 2007, Microsoft Corp invested $240 million in Facebook preferred shares, snagging a 1.6 percent stake, though that deal also included other elements such as an advertising partnership. That deal had valued Facebook at $15 billion.
(Reporting by Alexei Oreskovic; Editing by Phil Berlowitz, Tiffany Wu and Bernard Orr)
Author: Reuters
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