GSV Capital Takes Facebook Stake at $70B Valuation

GSV Capital Corp. has acquired a small stake in Facebook at a valuation of about $70 billion, Reuters reported. The firm bought up 225,000 shares at an average price of $29.28 per share. Facebook has roughly 2.4 billion outstanding shares, Reuters reported. Woodside, California-based GSV Capital invests in high growth, venture capital backed companies.

(Reuters) – Investment fund GSV Capital Corp has taken a small stake in Facebook that values the world’s No. 1 social networking site at about $70 billion.

The investment fund said on Monday it bought 225,000 shares in Facebook at an average price of $29.28 per share.

Facebook has roughly 2.4 billion outstanding shares, according to the latest data from secondary market company Sharepost.

Facebook executives have said it is inevitable that they will take the company public but have not specified a date.

At $70 billion, Facebook would be valued slightly below Amazon.com Inc (AMZN.O), Cisco Systems Inc (CSCO.O) or Hewlett-Packard Co (HPQ.N).

The Woodside, California-based GSV Capital invests in high growth, venture capital backed companies. (Reporting by Jennifer Saba, editing by Gerald E. McCormick)