New investment in Facebook values it at $70 billion

Reutersб═is reporting that investment fund GSV Capital Corp has made a small investment in Facebook, the world’s most popular social network. As a result of the deal, Facebook is now valued at an astonishing $70 billion. At $70 billion, Facebook is just below Amazon, Cisco, and Hewlett-Packard (HP).

On Monday, GSV Capital Corp said that it boughtб═225,000 shares in Facebook with an average price of $29.28 each.б═

It was revealed in the past that Facebook must begin reporting its financial earnings every quarter, regardless of whether it’s a private or public company. According to a recent report, Facebook may be preparing to file for a $100 billion IPO in early 2012, making it one of the largest IPO’s in history.б═