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