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    November 30, 2007

    Ka-Shing! Facebook cashes in with another funding round

    While a lot of internet minds were beginning to doubt Facebook‘s ability to raise more venture capital after getting a huge $15 billion valuation following a $240 million investment from the blue monster, Microsoft, it seems the stakes are not too high for Hong Kong billionaire Li Ka-shing, who dropped a $60 million investment in one of the most valuable Internet-only companies on the planet, according to sources close to Facebook.

    Ka-shing is not making the investment in Facebook via the companies he controls, butFacebook through another investment entity. He also reserves the right to double his investment in Facebook with another $60 million round.

    Ka-shing has plenty of zero’s in his bank account ““he is considered the richest man in Asia and was named amongst the richest men in the world by Forbes last March with a personal fortune of $23 billion. Although, dispite his investment and that of Microsoft neither will acquire a seat on the Facebook board of directors.

    Facebook has now raised just shy of $340 million in capital. That‘s enough to keep them going as a private entity for years, if they choose to do so. It would be interesting to know the site’s capital burn rate per month to gage how long they can sit on their funding. It’s also interesting to note that this investment could possibly have strings attached with Li-Ka Shings company doing a joint venture with Facebook in Asia.

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