Facebook "worth $50bn"

An American newspaper has reported that social networking site, Facebook, has raised funds from Goldman Sachs and a Russian investor in a deal that values the firm at $50bn or £32.3bn.

According to the New York Times, Goldman was investing $450 million and Digital Sky Technologies another $50 million in a deal that is, according to the paper, structured in such a way that would value Facebook at $50bn.

The news adds fuel to rumours that Facebook could float on the stock market in the not too distant future but Mark Zuckerberg, Facebook's founder, is continuing to deny any plans for a float.

The Financial Times also reported that Goldman was investing $375 million in Facebook, with Digital Sky putting in $75 million.

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