Facebook ‘friends’ set for the big pay day

Wall Street and Hollywood have shared a love-hate relationship in pursuit of the blockbuster

The Social Network – which depicts the genius, passion and betrayal that allegedly saturated the early days of Facebook – hit the big screen last month, taking $23m in North America in its first weekend. But it is the venture capitalists behind the social networking phenomenon that stand to make a killing when the website goes public.

Valuations for the 500 million-member network, founded by teenager Mark Zuckerberg while he was still at Harvard University, gyrate from the $25bn mentioned in the film to $34bn talked up by the optimists.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached