GSV Capital Investment Values Facebook At $70 Billion

[Emma]

Main Street investors can now grab a piece of Facebook thanks to Global Silicon Valley Corp., a publicly-traded, closed-end mutual fund, which has bought shares of Facebook.

GSV Capital bought 225,000 shares of the social networking giant at an average price of $29.28 per share or a valuation of about $70 billion. The $6.59 million purchase in a ?private secondary transaction? makes up about 15% of GSV?s portfolio, according to a spokeswoman.

http://blogs.forbes.com/tomiogeron/2...at-70-billion/

[iamtam]

considering that facebook is currently losing members in the us at a high rate, and is likely to end up as the chat board for the third world only, i would say they are screwed.

remember, myspace is about to be pawned off for about 20 million, slightly down from the 20 billion the guy who created it though it was worth.

[Altwebdesign]

lord above!!! thats more than the entire UK right now! probably also greece as well!

[LA Crew]

Imagine how much money people lost due to Facebook though? The time wasted on it surpass $70 billion. Students lose time studying, Companies lose worker productivity, but most of all, people lose time in general. It isn't Facebook fault at all though, just the way people are.