Facebook, the fast-growing free-access social networking website, has obtained a $6.5-billion valuation for its common shares.
There’s a catch though! This development, which stresses the website‘s high ranking among the giants in the technology and media sector, follows Digital Sky Technologies, of Russia, agreeing to pay $14.77 a share for Facebook common stock. Now, the Russian company‘s stake in Facebook will be 3.5%.
The deal shows that Facebook has a higher market value than many other established media and technology companies that make considerably more money. While CBS Corporation, which earned $13.95 billion in revenues in 2008, has a market capitalization of $4.06 billion, Salesforce.com has a market cap of $4.72 billion.
According to Mark Andreessen, board member, Facebook is expected to exceed $500 million in sales in 2009.
As of today Facebook has reached 250 million active users on its social network ““ up from 100 million nearly a year ago ““ thus ranking higher than the rival social networking website MySpace.
So how about, would you like to own stock in Facebook?
Image courtesy of LaughingSquid
