PHILADELPHIA May 1 Facebook Inc's business
is growing faster than forecast several months ago and the
firm is on track to top $2 billion in earnings before interest,
taxes, depreciation and amortization in 2011, according to a
report in The Wall Street Journal.
Facebook's growth is above the growth expectations that
circulated when Goldman Sachs and Digital Sky
Technologies invested in the closely held Internet company, the
newspaper said in its online edition.
The newspaper did not say by how much Facebook may exceed
Goldman's and Digital Sky Technologies' investment was at a
share price that implied a $50 billion valuation for Facebook.
The Wall Street Journal said Facebook's profits were now
growing at a fast-enough rate to justify a valuation of $100
billion or more when it goes public.
Facebook is expected to go public early next year.
The company could not be immediately reached for comment.
(Reporting by Jessica Hall; Editing by Dhara Ranasinghe)
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(Created by Dhara Ranasinghe)