When Facebook took a $240 million investment from Microsoft last month at a $15 billion valuation, they became, in theory, one of the most valuable Internet-only companies on the planet.
But that valuation was tenuous at best. Microsoft and Facebook expanded their year-old advertising relationship as part of the deal. And Facebook was unable to get a third party to pony up cash to justify the valuation. Only a single (conflicted) entity willing to say Facebook was worth $15 billion - that wasn’t good enough supporting evidence for the masses.
Until now, that is. Kara Swisher is reporting that Facebook has grabbed another investor - $60 million from Hong Kong billionaire Li Ka-shing.
Facebook has now raised just shy of $340 million in capital. That’s enough to keep them going as a private entity for years, if they choose to do so.