Assignment 2: The
Face Book
Deal
Due Week
6, Day
7 (Weight:
16.5%)
The following
are specific
course learning outcomes associated with
this assignment:
• Evaluate
the qualities
of effective
corporate governance.
• Use technology
and information
resources to research issues in
advanced financial management.
• Write clearly
and concisely
about advanced financial management using
proper writing mechanics.
Introduction:
• The past
two modules
have been
a bit
of a
mash-up of different ideas and
tools, which makes it difficult to
ask you
to perform
a neat,
simple task that covers all
the material
that we
covered. Instead, we’re going
to ask
you to
synthesize the bigger concepts from
past lectures. We’re going to do
so using
a company
that most
everyone is familiar with: Facebook.
• Facebook, as
everyone pretty much knows now,
rocketed to popularity starting in
2005 and
hasn’t looked back since.
As you
might expect from a highly
successful, capital-intensive, high-tech operation
that’s growing at blazing speeds,
the company
has gone
through several rounds of financing to
finance business growth. We’re going
to ask
you to
look at
that financing and explain to us
what happened.
• Though a
savvy researcher could find these
transactions herself via Google if
she truly
wanted to, we’ve gone
ahead and pulled the big
ones up
for you
in chronological
order to save you some time.
We encourage
you to
investigate each of these further,
however. There’s no shortage
of background
on each
of these.
Here they
are in
nice news-bite
capsules for digestion:
o The Facebook group announced
that it
has raised
between $10 million to $12
million in first-round financing led by
Accel Partners on April 15,
2005. As a part of
the transaction, Jim Beyers,
a Managing
Partner at Accel Partners, joined
the company’s
board. The post-money valuation
of the
company was $100 million.
o Facebook, Inc. announced that
it has
raised $27.5 million in its
third round of funding led by new investor Greylock
Partners on April 19, 2006.
New investor
MeriTech Capital Partners and
existing investor Accel Partners invested
in the
transaction. The post-money valuation of the
company was $525 million.
o Facebook, Inc. announced that
it will
raise $240 million in an
equity round of funding from new investor Microsoft Corporation
on October
24, 2007.
As a
result of the transaction, Microsoft Corporation
will now
hold 1.60%
stake in the company. The
round was raised at
a post-money
valuation of $15,000 million.
o Facebook, Inc. announced that
it has
raised $200 million in funding
from Digital
Sky Technologies Limited on
May 26,
2009. Digital Sky Technologies Limited invested in preferred stock and acquired 1.96%
stake, valuing the company at
$10 billion.
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