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Facebook raises $1 billion through Goldman

Facebook says it has raised $1 billion from non-U.S. investors through Goldman Sachs.
/ Source: The Associated Press

Facebook says it has raised $1 billion from non-U.S. investors through Goldman Sachs.

Combined with a $500 million investment from Goldman, funds Goldman manages and Russia's Digital Sky Technologies in December, the investments value Facebook at $50 billion.

Facebook said Friday the money gives it greater financial flexibility. It did not say how it plans to spend it.

The company says that while it had the option to raise up to $1.5 billion through Goldman, it decided to limit it to $1 billion.

As expected, Facebook says it will start filing public financial reports by April 2012. The company expects to have more than 500 shareholders in April of this year. When it does, regulations require it to start reporting is finances to the public within a year.