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Facebook valued at $50 billion

By George Chapple

Facebook valued at $50 billion

Social media website Facebook has been valued at $50 billion (£32.2 billion) after it received a number of capital injections worth $500 million.

The new valuation makes Facebook worth more than internet giants Yahoo and media and entertainment company Time Warner.

Russian investment form Digital Sky Technologies and global investment and securities firm Goldman Sachs are among the companies making fresh investments in the social networking site.

Goldman Sachs looks set to invest $375 million of its own funds and is attempting to raise a further $1.5 billion from other investors.

The latest valuation is double the last valuation taken from summer 2010 when Facebook listed some of its stock privately on secondary markets.

Facebook is yet to disclose the amount of profit it is generating, despite the recent valuations. Advertisers and businesses see great potential in the social networking site as many of its 500 million users display personal information on their pages.

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