Photo: Dylan Love
Goldman Sachs lost the Facebook IPO, but that doesn’t mean it’s not going to make boatloads of cash from the offering.On share sales alone, Goldman Sachs will bring in $1 billion, Christine Harper at Bloomberg reports. Last year Goldman bought shares of Facebook at $50 billion valuation, which means it will double its money.
And it’s only selling 44% of its stake. Down the road it can make even more money in share sales.
Goldman will bring in additional revenue by managing the underwriting of the IPO, and down the line, hopefully winning some business from the new millionaires coming out of Facebook.
So, even when Goldman loses, it still wins. It does not suck to be the Vampire Squid.