Facebook worth $50 billion
Facebook, the world's largest social networking website, has been valued at a whopping $50 billion after a new round of investment.
There are thought to be 500 million members of Facebook worldwide, which means if you're a member you're worth around $100. Congratulations!!
This latest valuation follows reports that Goldman Sachs, the iconic US bank, and Russia's Digital Sky Technologies, an existing Facebook investor, had pumped in an additional $500 million between them.
The funding round hasn't yet been officially confirmed, but Bloomberg, the financial newswire service, has it from three sources close to the deal and the story is now doing the rounds on various blogs.
Bloomberg also said that Goldman Sachs had secured a deal that will allow its clients to buy equity in Facebook worth up to $1.5 billion.
Facebook has been by far the most successful of the huge number of social networking sites that have launched over the past decade. From humble beginnings in a Harvard dorm, the site now has members in all four corners of the globe. If it were a country, the United States of Facebook would be the planet's third largest by population, behind only China and India.
Seven years after its launch, the site is becoming increasingly popular with organisations, as well as individuals. While its primary function remains sharing updates, links and photos with friends, Facebook is also now a place for brands to connect with consumers.
Facebook is seen by many businesses as a better place to engage existing and potential customers, which is evidenced by the investment of more time and money in official Facebook pages (Starbucks is a good example) and the number of offline ads that point to a Facebook page rather than a corporate website.