Facebook may be forced to float

Facebook is under pressure to take the company public after a fresh $500m (£320m) investment took its value to the same as Tesco at $50bn.

Currently, clients can purchase a piece of Mark Zuckerburg’s social media empire by investing at least $2m if they agree to not sell the shares until 2013 and no trade in secondary stock markets.

Goldman Sachs and Russian tech investment firm Digital Sky are the latest to pour more money into Facebook, prompting scrutiny from the securities and exchange commission (SEC) in the US, which stipulates that firms with 500 or more shareholders must go public.

According to the Guardian’s Jemima Kiss: “Facebook won an exemption from this ruling in November 2008 by saying most of its shareholders were staff. Outside Facebook, though, nobody knows for sure how many investors it has.”

(Source: MediaGuardian)

Comments

comments

 

“Before we all sink into a slough of digital dystopian despair, it might be worth considering this: is this a sign of the strength, not weakness, of revelatory journalism in the digital age?”


Charlie Beckett, director of POLIS at the London School of Economics, reacts to news that the UK government forced the Guardian into destroying hard drives that contained information leaked by Edward Snowden.


(Source: POLIS)

 

Subscribe to Media Digest via Email

Enter your email address to subscribe to Media Digest and receive notifications of new stories by email.

Latest Media Industry News, Independent News and Media, UK