Facebook Raises Another $500 Milion
Facebook raised another $500 million yesterday in addition to Microsoft's $240 million. The money is supposed to have come from two NYC-based hedge funds, who would have bought stakes roughly equal to the 1.6% Microsoft purchased.
This makes perfect sense. Rumors from the Facebook funding frenzy had the company seeking $750 million from the get-go. And during yesterday's almost content-free conference call, Facebook's Owen Van Natta refused to rule out the notion that the company had raised more capital than Microsofts's.
With $750 million or so in new funding, Facebook can pretty much do whatever it wants. Go public. Stay private. Acquire. Or just build out more.
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