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Facebook valued at $5bn as it seeks fresh funds
NEW YORK - The value of Facebook has fallen by as much as two thirds after it was reported to be in talks with private equity companies about selling a stake that would give it a value of between $5bn and $6bn, drastically down on the $15bn it was worth when Microsoft invested in 2007.
The New York Post reports that Facebook is only willing to sell more shares in the company if it gets a valuation in the region of $5bn to $6bn.
However, the newspaper, which is part News Corporation, owner of MySpace, says that offers only value Facebook at around $2bn to $3bn.
The newspaper claims that sources said Facebook is in talks with potential investors including private equity firms Kohlberg Kravis Roberts and General Atlantic.
In October 2007, Microsoft bought a 1.6% stake in Facebook for $240m. It was at the height of the website's growth.
The site remains hugely popular, but with the company in private hands its revenue and profitability remain unknown.
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