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250 Million Users on Facebook, Company’s Valuation goes up to $6.5 billion

Published by on Jul 16th, 2009, No Comments

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%.

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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

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