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Report: Facebook Rejects Funding at $4 Billion Valuation

Authored by Mark Hefflinger on April 16, 2009 - 9:39am.
Palo Alto, Calif. - Online social network Facebook has turned down a funding offer that would have valued the company at $4 billion, VentureBeat reported. The blog, citing sources close to the company, said that the company rejected the money because "it doesn't need it," with more than $200 million in cash on hand.

That contradicts a recent report in BusinessWeek that said Facebook needed to raise $100 million to pay for new equipment.

Silicon Alley Insider, in fact, reported that the company values itself at closer to $5 billion, that its revenue is up 70% from a year ago and that it expects to cross over to cash-flow positive sometime next year.

 

Related Links:
http://snipurl.com/g1k5s (VentureBeat)

http://snipurl.com/g1k69 (Silicon Alley Insider)

Published in DMW Daily, April 16, 2009
tags: Deals | VC | Social Networking | Facebook | Investments |



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