Facebook shuns funding at USD8bn valuation – Rumour

Wed May 20 2009, 18:14 PM

Facebook has reportedly rejected a USD200m cash injection, which values the social network at USD8bn, due to disagreements over the allocation of a board seat. The venture funding offer, made by an undisclosed firm, follows a string of rumoured funding talks, with separate reports claiming Facebook is close to securing USD150m from new and existing backers.

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