Facebook stock sale would value company at $70B

That’s not a typo in the title, that’s seventy billion dollars… with a “b”. Reuters is reporting that a group of private investors is looking to offload nearly $1 billion worth of shares they hold in social networking company Facebook. The price per share puts Facebook’s valuation at nearly $70 billion. “The current deal, which includes stock held by Facebook employees, is awaiting approval from top Facebook executives including Chief Executive Mark Zuckerberg and Chief Financial Officer David Ebersman,” writes Reuters. “The sellers have lowered their price after previously trying to offload shares at a price that valued the company at $90 billion, which would make Facebook more valuable than Time Warner Inc and News Corp combined.” Facebook declined to comment on the report.

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