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 (financially conflicted) entity was willing to say Facebook was worth $15 billion – that wasn’t good enough supporting evidence for the valuation.
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. Their $15 billion valuation may or may not be real, but they certainly have a lot of cash to fiddle with.