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New Economy, Leadership, Entrepreneurship, Management, Global Business

Facebook Raises $100 Million

Posted by iBlog on May 13, 2008

Facebook is about to stuff more cash into its already full coffers. Having raised $360 million in the span of seven months, the social network has clinched another $100 million.

Palo Alto (Calif.)-based Facebook will raise the additional funds to purchase servers, powerful computers designed to ensure the site can handle a swiftly rising number of users and the dizzying array of whiz-bang applications people add to profile pages. “It will be used entirely for servers,” Facebook Chief Financial Officer Gideon Yu says in an interview.



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