Facebook’s new escalating value

The $US60 million Facebook has raised by selling a 0.4% stake to Hong Kong billionaire Li Ka-shing values the three-year-old social networking website at $US150 billion.

The investment follows the October sale for $247 million of a 1.6% stake to Microsoft. Other companies rumoured to have been in sale talks over the past year include Google, News Corporation, Yahoo! and Viacom.

Facebook was founded in February 2004 by Mark Zuckerberg, a member of the Harvard class of 2006 and former Ardsley High School student. Initially the membership was restricted to students of Harvard College.

As of late November 2007, the website had 55 million active members worldwide.

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