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GSV Takes Stake in Facebook, Valuing It at $70 Billion

By REUTERS, June 27, 2011


NEW YORK (Reuters) - Investment fund GSV Capital Corp has taken a small stake in Facebook that values the world's No. 1 social networking site at about $70 billion.

The investment fund said on Monday that it had bought 225,000 shares in Facebook at an average price of $29.28 each.

Facebook has roughly 2.4 billion outstanding shares, according to the latest data from secondary market company Sharepost.

Facebook executives have said it is inevitable that they will take the company public, but have not specified a date.