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Facebook raises USD150m to buy employee stocks
Facebook is reportedly close to finalising a USD150m funding round as it tries to raise cash to buy up shares held by its employees. According to sources quoted by VentureBeat, the social network intends to buy employees’ stock at USD10 per share – ten times the market rate – under a common stock sale scheme. The company is said to be attempting to provide employees with “liquidity” as a reward for helping Facebook grow so successfully at a time when the open market is likely to offer little return.
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