Facebook is now reported to be worth $70+ Billion after shares hit $28.26 each, reports TechCrunch.
The rise in price seems to have been triggered by the Goldman Sachs $500m investment announced earlier this month.
Joined by the Russian tech investment firm Digital Sky, which put $50m into the deal, Goldman has structured it as a new investment product. Clients can buy a chunk of Facebook equity by investing at least $2m, and have to agree not to sell shares until 2013 and not to trade in secondary stock markets.
The securities and exchange commission (SEC) is checking these trades, they say firms with more than 499 shareholders must go public, though Facebook won an exemption from this ruling in November 2008 by saying most of its shareholders were staff.