Hey folks we just came across a news which says that King Abdullah of Saudi Arabia has decided to make an offer of $150 billion to buy out Facebook. Inside sources within the kingdom suggest that he is very upset with Mark Zukerberg for allowing the revolt to get out of control. In a personal meeting between Mark Zuckerberg and King Abdullah on Jan 25, 2011, Zuckerberg had promised that he would not allow any revolt pages to be formed on Facebook even while he allowed Egypt and Libya revolt pages to be formed. But little did King Abdullah know Zuckerberg. Had he seen the movie “Social Network”, he would have been better advised than to trust Zuckerberg.
The deal will be all cash. It is worthwhile to remind our readers that Goldman Sachs had invested into Facebook at an unimaginable $50 billion valuation.
Social networking site Facebook has raised USD 500 million from Goldman Sachs and Russian Internet investment group Digital Sky Technologies in a deal valuing the company at USD 50 billion, says a media report.
“Facebook, the popular social networking site, has raised USD 500 million from Goldman Sachs and a Russian investor in a deal that values the company at USD 50 billion,” the New York Times reported citing a source.
The deal makes Facebook now worth more than companies like eBay, Yahoo and Time Warner.
Under the terms of the deal, Goldman has invested USD 450 million, and Digital Sky Technologies, which has already sunk about half a billion dollars into Facebook, invested USD 50 million, the report noted.
The presentation also involved some Facebook pages of bikini clad models profile among other profiles. Sources reveal that King Abdullah had made up his mind immediately and spoke to Lloyd Blankfein to complete the transaction as soon as possible.