T. Rowe Price Invests in Facebook
T. Rowe Price made an unconventional l move Friday as the investment company invested in over 190.5 million dollars in the social networking site, Facebook. T. Rowe Price leads all other companies in mutual funds investment, most notably in technology companies. With 25 dollars a share in over 20 different mutual funds, Facebook’s value is sure to go up following the investment.
Facebook has not publicly reported company results yet as T. Rowe Price is really the only investor looking to take a risk. Facebook’s value keeps increasing as more business are looking to buy the privately owned company. Facebook is only seven years old and the social networking site now has a market value of over 75 million dollars.
T. Rowe Price also announced that it made investments in Angie’s List in the amount of 35.4 million dollars. They also invested in 71.8 million dollars in Zynga Inc. T. Rowe Price is making a huge investment in both companies as neither company has gone public yet in trading and lack liquidity. Their value isn’t yet known to other investors as its recent attention may skew its value.