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Interpublic Group looked on smiling recently as the global financial elite clamored for a portion of the Goldman Sachs’ private placement shares in Facebook. The offering was rapidly oversubscribed, but IPG is enjoying the benefits of an early strategic interest that has quietly turned into a financial windfall.
In June, 2006, IPG paid under $5 million for a stake of less than half a percent in Facebook, a holding now worth around $200 million based on Goldman Sachs’ $50 billion valuation, sources said.
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