Facebook raises US$500m from Goldman Sachs, Russian firm...

Social-networking giant Facebook could flex its growing might after reportedly raising US$500 million (S$643.15 million) from Goldman Sachs and a Russian firm in a deal valuing the website at US$50 billion.

The New York Times, citing sources familiar with the deal, reported Monday that Goldman had invested US$450 million in Facebook and Digital Sky Technologies, a Russian investment firm that has already sunk about half a billion dollars into Facebook, invested US$50 million.

Facebook and Goldman, one of Wall Street's most prestigious investment banks, declined to comment on the report. More...

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