The world’s biggest social networking website Facebook is now rumoured to be worth more than $50 billion following a private market transaction disclosed to a US blog.
Techcrunch has reported that Facebook held a share auction last week where $40 million changed hands with an end share price of $20.76.
The technology website estimates there are around 2.5 billion shares making up Facebook – giving the social network a staggering value of $51.9 billion (£33 billion).
This gives Facebook, which last week trademarked the word ‘face’, a market capitalisation of more than a quarter of Google’s and just less than a quarter of software giant Microsoft.
Launched by Harvard student Mark Zuckerberg (pictured) in 2004, Facebook has been the online success of the past decade with Hollywood film The Social Network hotly tipped to win a cluster of Oscars in January.
Zuckerberg, 26, is the world’s youngest self-made billionaire.
Correction in your post:
“The world’s biggest social networking website Facebook is now rumoured to be worth more than $50 million following a private market transaction disclosed to a US blog.”
Its billion not million