KXNT_35x90 cbssports1140-horizontal-small

News

Bono "Friends" Facebook

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

bono 385 Bono "Friends" Facebook

U2’s Bono has reportedly found a true friend in Facebook.

The UK’s TheWord.com reports that Bono’s private equity firm, Elevation Partners, has quadrupled its investment in the social networking website. The firm owns an estimated one-and-a-half percent of Facebook, an investment that has now skyrocketed to a value of 750-million dollars. Bono’s money fund specializes in media and entertainment opportunities, with a reported one-point-nine-billion dollars in committed funds. Among its previous investments was financial backing for Hewlett-Packard’s Palm and a cash infusion for Yelp.com, a website that offers local reviews covering about 40 states.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,007 other followers