General Atlantic, the investment firm which is investing in Facebook, has valued the social networking site at $65bn.
According to CNBC, General Atlantic is buying around 2.5 million shares from former employees of Facebook. The move is expected to give the company a 0.1% stake.
The deal is waiting for approval from Facebook. Neither General Atlantic nor Facebook have yet commented on the report.
Facebook, the site that has more than 500 million registered users, had raised $1.5bn in a Goldman Sachs led financing round.Facebook had then said that the transaction valued the company at $50bn.
Facebook said that offering was oversubscribed and it chose to raise less than the $2 billion it could have. The funding was limited to non-US investors.
General Atlantic has invested in a number of Internet & Media firms over the last decade. Among General Atlantic’s investments are Red Ventures, Alibaba Group, Network Solutions and Kaspersky Lab.
