SAN FRANCISCO, Jan 22: Facebook announced on Friday that it had raised $1.5 billion from investors in a private share offering that valued the booming social network at approximately $50 billion.

“Our business continues to perform well, and we are pleased to be able to bolster our cash position with this new financing,” Facebook chief financial officer said.

“With this investment completed, we now have greater financial flexibility to explore whatever opportunities lie ahead.”

Facebook said US investment bank Goldman Sachs completed an oversubscribed offering to its non-US clients in a fund that invested $1 billion in Facebook Class A common stock. Russia's Digital Sky Technologies, The Goldman Sachs Group, Inc., and funds managed by Goldman Sachs meanwhile invested $500 million in Facebook Class A common stock at the same $50 billion valuation.—AFP