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Sketchy, Sketchy Facebook!

Filed under: Icky Icky PooBusiness Blitz

facebook sketchiness

It's complicated between The Securities and Exchange Commission (SEC) and Facebook.

According to reports, the SEC is reviewing whether or not Facebook is going against financial disclosure laws, following their sketchy $500 million investment deal with Goldman Sachs and Russian investor Digital Sky Technologies.

The SEC will make a decision as to whether they need to create new disclosure rules for private firms such as Facebook.

New Yorker investment writer John Cassidy is concerned because he believes that Goldman Sachs and Facebook are trying to avoid having to publicly report their financials by raising $1.5 billion from multiple investors, but treating them as one.

Given the fact that companies with more than 500 investors must publicly report their financials, Goldman and Facebook seem to have found a loophole, which will allow them to keep secrets from the public.

SO sketch!

Thoughts???

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Facebook Is Worth $50 Billion!

Filed under: Tech TalkBusiness Blitz

facebook valued at 50 billion dollars

We've gotta admit, this is pretty impressive given the fact that Facebook pages are completely free to create.

Facebook has raised $500 million from Goldman Sachs and Russian investor Digital Sky Technologies, in a deal which values Mark Zuckerberg's social networking site at $50 billion.

Congratulations, Facebook!

…Just don't start charging for membership. As long as U promise not to do that, we'll continue to be happy for you, bbs!

P.S. CLICK HERE to "like" us on Facebook!

And CLICK HERE to "follow" Perez on Twitter!

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