TechCrunch reports that in the last couple of weeks Facebook has received and turned down two term sheets for further funding that would have valued the company at between $6 and $8 billion.

The latest term sheet involved an offer of $200 million in venture funding, which would have valued the company at $8 billion. Apparently Facebook turned the money down based on the requirement to provide a board of director’s seat, not because of the valuation.

Source: Michael Arrington, “Facebook Turns Down $8 billion Valuation Term Sheet, Claims 2009 Revenues Will Be $550 million,” TechCrunch, May 19, 2009

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This entry was posted on Wednesday, May 20th, 2009 at 3:00 pm and is filed under News and Comment, Social Media, Venture Capital. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.