TECH CRUNCH -- Apr 30 -- Facebook is reportedly still in the
process of talking to several private equity firms about a significant
follow-up investment in the company. According to the New York Post, which is
owned by News Corporation, the same company that owns Facebook rival MySpace,
the social networking juggernaut has already held informal exploratory meetings
with several equity firms. The article states that Facebook is looking for
fresh capital at a $5-6 billion valuation. Tech Crunch writers noted that
Facebook is “burning through as much as $20 million a month” and likely has
“less than two years runway left, and possibly significantly less if they
continue to add new users by the tens of millions that are currently flocking
there every month.” Existing Facebook investors are reportedly not pleased with
the prospect of diluting their shares in the company. FULL ARTICLE @ TECH CRUNCH