Facebook gets US$100 million to expand
By Erina Lin, Monday 12 May 2008 at 21:56 :: General :: #1647 :: rss
Facebook has raised US$100 million (£51 million) to expand its server capacity in order to deal with an explosive growing numbers of users.
The social networking site is borrowing $100 million from the venture loan company TriplePoint Capital to finance the plan, Media Guardian reported.
According to the data from Comscore, the site reported a dizzying growth rate – its worldwide monthly unique user increase by 240 percent year-on-year for March this year from 32 million to 109 million.
Gideon Yu, Facebook chief financial officer said the loan will not dilute Facebook's equity. It will be entirely used for buying servers, according to Media Guardian.
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