The much-ballyhooed Facebook initial public offering will open trading Friday morning at $38 per share, the top end of the range the social network filed with the Securities and Exchange Commission earlier this week, CNBC reported.
What do Digital Sky Technologies and Elevation Partners have in common, besides being investors in Facebook? Each is seeking to raise $1 billion.
The private equity fund owned by U2 front man Bono, Elevation Partners, has seen its 1.5 percent stake in Facebook grow to $750 million following Goldman Sach’s $450 million investment in the social network.
This morning Techcrunch published information about Elevation Partners’ continued investment in Facebook, which has reached $210 million after purchasing $120 million in the private markets. Additionally, Facebook will be making a significant investment in their Indian offices, opening up a 50,000 square foot office which will employ close to 500 people, as first published by The Economic Times.