Bono’s Investment Firm May Make $1.5 Billion in Facebook IPO
Elevation Partners Bought 2.3 Percent of Social Media Company in 2009…
Bono’s investment group, Elevation Partners, stands to make more than $1.5 billion in the initial public offering of Facebook stock, Nasdaq reports. Elevation Partners bought 2.3 percent of the social network company for $90 million in 2009.
Facebook is expected to raise $16 billion in its IPO, which would be the largest tech IPO in history, and the third largest IPO for an American company following Visa and General Motors. The company is not yet cleared by the Securities and Exchange Commission to launch the IPO, but CNN reports that Facebook will set its shares at $38 each. (More via Rolling Stone…)