Friday 16 December 2011

Facebook Has a Giant Pile of Cash on Hand

Facebook is really, really rich. You knew that, though, right? But no. They're way richer than you thought: Projecting a cool billion in profits this year and after raising another billion from Goldman Sachs, Facebook now has $3.5 billion in cash, and no deficits. Gawker got its hands on the company's swollen financial records a source gave to Gawker's Ryan Tate, and the numbers are really impressive, putting the company in a financial league with eBay, Yahoo, and 3M, Tate reports, and setting it up to start making some serious acquisitions. more..

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