Written by Looks like Goldman Sachs sees a very big IPO for Facebook in the not too distance future:
The news that Goldman has taken a stake in Facebook, the white-hot social networking giant, has tongues wagging from Wall Street to Silicon Valley. As first reported by DealBook, Goldman has invested $450 million in a deal that values Facebook at $50 billion. As part of the deal, Goldman is looking to raise as much as $1.5 billion from its wealthy clients to invest in Facebook alongside the firm.
The move is straight out of Goldman’s playbook. The firm has a long history of “friending” America’s hottest companies and chief executives. By collecting so many important friends, Goldman generates big fees.
