Facebook mulls $1 bln employee share sale – report

Posted on Posted in Technology news

LOS ANGELES (Reuters) – Facebook is considering letting its employees sell up to $1 billion of their shares to institutional investors, at a price valuing the company at about $60 billion, an influential industry blog reported.

Facebook is pondering the move after entertaining approaches from a number of major institutions interested in investing in the world’s largest social network, the All Things Digital technology blog cited sources as saying on Thursday.

That valuation would surpass previous measures. Last month, the company founded by Mark Zuckerberg in a Harvard dorm room raised $1.5 billion of financing in a round led by Goldman Sachs, which valued it at $50 billion.

Facebook is expected to possibly go public around 2012.

(Reporting by Edwin Chan, editing by Maureen Bavdek)

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