GSV Takes A Stake In Facebook, Is Assessed At $ 70 Billion

GSV Investment Capital Corp. acquired a small stake in Facebook that values ​​the world's No. 1 social networking site to about $ 70 billion. Investment Fund announced Monday it had bought shares in Facebook 225 000 at an average price of $ 29.28 each.

Facebook is about 2.4 billion shares, the latest data on the secondary post Share market society. Facebook executives have said is inevitable that take the company public, but does not set the date, reports Reuters from New York.

Founded in a dorm at Harvard in 2004 by Mark Zuckerberg, Facebook fans threat of the Internet as Google Inc. and Yahoo Inc. because it is one of the most popular destinations on the Internet. He is ready to double Yahoo for the largest share of U.S. $ Ad online this year, with more than $ 2 billion, according to research firm eMarketer.

Facebook is one of the most anticipated introductions with investors waiting to get a piece of the social networking site with over 500 million users.

A $ 70 million, Facebook is estimated slightly lower than Amazon.com Inc., Cisco Systems, Inc. or Hewlett-Packard Co.

But concerns about red-hot growth Facebook has increased in recent months. The group on Facebook shareholders trying to sell $ 1 billion in stock in the secondary market, this may also give the company a value of about $ 70 billion in April Reuters reported.

Woodside, California, GSV Capital invests in high growth, supported by venture capital firms. The investment of $ 6.6 million in Facebook represents about 15 percent of the total portfolio of GSV, the company said in a statement.

Representatives of Facebook and GSV Capital was not immediately available for comment.