Monday August 15, 2011

Facebook Valued At $65 Billion?

Facebook is now valued at *shakes magic eight ball* $65.5 billion!

Advertising company Interpublic Group (IPG) today announced that it has reached an agreement to sell approximately half of its holdings in Facebook for net cash proceeds of $133 million in a privately negotiated transaction. IPG did not reveal the buyer, the number of shares it would sell, or the price paid per share, but said it will record a pre-tax gain of $132 million upon closing of the sale.

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