Facebook Made Less Than 1% Of Its Assessed Valuation In the First 9 Months of 2010

French webiste nouvelobs reports that Facebook made just $355 million in net income in the first nine months of 2010. This information is based on private placement prospectus that G0ldman Sachs presented in New York this afternoon to wealthy customers interested in an equity investment in the social network.

According to the document, Facebook generated $1.2 billion in revenue in the first nine months of 2010, that resulted in a net income of $355 million. Although this number seems big, it is just 0.71% of the $50,000 million (or $50 billion) valuation of Facebook that G0ldman Sachs arrived at.

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The investor who received the Facebook private placement prospectus was also unhappy that these financial statements were not backed by auditors and provide little detail on how Facebook makes its revenues.

If you are wary of investing in Facebook too, do check out Fortune Magazine contributing editor Duff McDonald‘s post the 5 reasons why he is not buying Facebook.

( photo: via anphicle.com )

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