Facebook investments may raise SEC eyebrows

The Securities and Exchange Commission (SEC) may question the structure of a deal that would provide Facebook with $500 million in investments from Goldman Sachs and a Russian investor, Digital Sky Technologies.

Companies with more than 499 investors must publicly disclose their financial results, but "in a rare move" Goldman wants to structure the arrangement so clients who invest in Facebook only count as a single investor, according to The New York Times

"It is unclear whether the SEC will look favorably upon the arrangement," the article says.

A valuation by investors involved in the deal says Facebook is worth $50 billion, according to the report, which cites people involved in the transaction. 

The new investments could add pressure for Facebook to go public, according to the article. It notes, however, that founder and chief executive Mark Zuckerberg has told people not to hold their breath.

As an interesting aside, the Times notes that employees at Goldman and other major firms are blocked from using Facebook at work.