Wandering China

An East/West pulse of China's fourth rise from down under.

China tempted as Facebook prepares to float [The Age]


A rumour at this point – China wants to buy a big piece of Facebook (Business Insider, June 30, 2011) to verify the source this article got its information from. And here’s an opinion-piece Why would China want to buy a piece of Facebook (Readwriteweb, July 6, 2011).
– – –

China tempted as Facebook prepares to float
Nathan Olivarez-giles
Source – The Age, published July 7, 2011

LOS ANGELES: The Chinese government is looking into buying a stake in Facebook, ahead of the social network’s widely expected initial public stock offering in 2012.

The possible investment, which was reported by the website Business Insider, would land the communist government a ”huge chunk” of shares in the Palo Alto, California-based company.

Citing an unnamed source ”at a fund that buys stock from former Facebook employees”, the website said China wants an investment ”large enough ‘to matter”’.

A second unnamed source told the site that Citibank is looking to buy about $US1.2 billion worth of Facebook shares for two different wealth funds – one belonging to the Chinese government and another belonging to a group from the Middle East.

Officials at Citibank were unavailable on Tuesday to comment on the report.

Facebook recently sold 225,000 shares, worth about $US6.6 million ($6.2 million), to the GSV Capital Corporation investment fund and added Reed Hastings, Netflix’s chairman and chief executive, to its board of directors.

Facebook, which is the world’s most popular social media service, is believed to be worth as much as $US100 billion.

Advertising rates have held up even after the company added new ways for marketers to promote products, allaying concern that prices would decline as inventory surged, Facebook said on Wednesday.

Rates for so-called self-serve ads, which are sold through an automated auction system and account for most sales, are unchanged since March, when the company completed a redesign to add promotions under photos, and increase the number of spots on some pages to as many as five, Facebook said.

The Facebook chief executive, Mark Zuckerberg, needs to sustain ad prices amid competition from Google Inc. and Twitter Inc.

Los Angeles Times, Bloomberg

Advertisements

Filed under: Beijing Consensus, Bloomberg, Chinese Model, Communications, Economics, Finance, Influence, Media, Social, The Age

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 2,575 other followers

East/West headlines of Rising China

East/West headlines of Rising China

About Wandering China

Click to find out more about this project

Support //WC

Support Wandering China now - buy a Tee Shirt!

Be a champ - Support Wandering China - buy a Tee Shirt!

The East Wind Wave

China in images and infographics, by Wandering China

China in images and Infographics, by Wandering China

Wandering China: Facing west

Please click to access video

Travels in China's northwest and southwest

Wandering Taiwan

Wandering Taiwan: reflections of my travels in the democratic Republic of China

Wandering China, Resounding Deng Slideshow

Click here to view the Wandering China, Resounding Deng Slideshow

Slideshow reflection on Deng Xiaoping's UN General Assembly speech in 1974. Based on photos of my travels in China 2011.

East Asia Geographic Timelapse

Click here to view the East Asia Geographic Timelapse

A collaboration with my brother: Comparing East Asia's rural and urban landscapes through time-lapse photography.

Wandering Planets

Creative Commons License
Wandering China by Bob Tan is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.
Based on a work at Wanderingchina.org. Thank you for visiting //
web stats

Flag Counter

free counters
Online Marketing
Add blog to our directory.
%d bloggers like this: