Interpublic Group sold half of its stake in Facebook for $133 million to an undisclosed buyer.
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.
The Securities and Exchanges Commission has begun reviewing its reporting rules for private companies.
According to a report from BusinessWeek yesterday evening, Zynga has raised an additional $147 million from Softbank. More importantly, the investment helps Zynga gain distribution. As Douglas MacMillan and Yoshinori Eki write, “Softbank and Zynga have discussed distributing and jointly promoting games through Softbank’s mobile-phone service in Japan and other countries”.
The New York Times has released initial details about the Facebook employee stock purchase plan from Digital Sky Technologies (DST). As I wrote back in May, DST invested $200 million and announced plans to purchase up to $100 million “from existing common stockholders that would facilitate liquidity for current and former employees’ vested shares in the company”.