The parent company of a significant CU investment partner has made a large investment in a social media giant.
Investment banking giant Goldman Sachs Group Inc. has invested $450 million in Facebook in a move that could boost the social networking site muscle.
The New York Times reported Goldman Sachs, along with Digital Sky Technologies, a Russian company, have together invested $500 million in Facebook. The investment is supposed to give Facebook more money to develop new products, hire more employees and possibly pursue acquisitions. The Times also reported that the investment may allow earlier shareholders, including Facebook employees, to cash out some of their stakes in the company.
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