Press Here
SUNDAYS @ 9 AM
NBC BAY AREA

Facebook Now Valued at $65 Billion

Email
|
Print

    NEWSLETTERS

    It's been a busy financial week for Facebook, with rumors that one of its founders is selling 10 million shares and that General Atlantic now values the social network at $65 billion.

    The report on one of Facebook's founders -- CEO Mark Zuckerberg, Chris Hughes, Dustin Moskovitz or Eduardo Saverin -- trying to sell 10 million shares ($300 million) came from the New York Post. Since many believe it's unlikely Zuckerberg is trying to cash out, that leaves only Hughes, Moskovitz and Saverin, who have all left the company and started other projects.

    Perhaps because of the new shares on the market or just intense trading in general for Facebook's private stock, General Atlantic reportedly picked up 2.5 million shares -- or a 1/10 percent stake in the company -- and valued the social network at $65 billion.

    Facebook value has jumped 30 percent in the past six weeks, according to CNBC. They report that a scarcity of shares has created an imbalance, according to experts.

    Because Facebook is a private company, none of this information has to be publicly disclosed until it's finalized -- and it's unlikely either company will comment on a pending deal.

    As for the mystery cofounder? I wish I could say I had an inside track, but all three have very good reasons to want cash. Hughes has the startup Jumo, Moskovitz has Asana and Saverin is an investor in Qwiki. If I were to choose one, I would say it's Saverin -- but who doesn't need some capital in these tough times?