According to an announcement made at Menlo Park California,. Facebook Inc. that is a leading social utility has acquired a $100 million in debt finance from TriplePoint Capital. Last fall, Microsoft and other investors had provided $300 million dollars in equity funding to Facebook. TriplePoint Capital is a leading technology and life sciences specialty finance company. The announcement was made at Menlo Park California.

According to Jim Labe (CEO, TriplePoint Capital), “TriplePoint Capital is pleased to continue our role as a major financing partner and supporter of Facebook – a role that began during the Facebook’s pioneering stages. We’ve enjoyed watching Facebook’s success over the years, and look forward to deepening our partnership with them as they continue to mature and their needs continue to evolve."

Previously, TriplePoint had already pumped in $30 million of debt finance into Facebook before this new $100 million investment. TriplePoint Capital has provided debt finances to numerous companies in the fields of technology, life sciences, and clean technology ("cleantech" categories) that has enabled these companies to grow and succeed. These companies are YouTube, Adify, Slide, Coskata, Ilypsa Pharmaceuticals, and numerous others. Due to TriplePoint Capital’s permanent balance sheet, creativity, and dedicated customer service, it has always managed to forge long term partnerships with its customers. The new high-developing companies are provided with a wide-range of financial services and expertise by TriplePoint Capital to help them in every stage of their development.

About Facebook:

Facebook was founded by Mark Zuckerberg in February 2004 and its headquarters are located in Palo Alto, California. It is one of the leading social networking websites that aims at the spread of information through the means of social networks. The website has a user base of 70 million and covers over 47, 000 geographic locations. It covers just about every geographic, work-related, collegiate and high school networks. According to ComScore’s MediaMetrix report, Facebook ranks sixth, among the top ten most trafficked websites in the United States.

About TriplePoint Capital:

TriplePoint Capital is a leading global specialty finance company, headquartered on Sand Hill Road in Menlo Park, California. Its main profile is to work with high-growth private equity and venture capital backed companies with debt financing, equity capital and complementary services. TriplePoint Capital’s unique creativity, flexibility and customer service has been able to get it customers such as YouTube, Adify, Slide, Coskata, Ilypsa, and numerous other high profile technology and life sciences companies. TriplePoint Capital has been rated as a qualified company capable of meeting the needs of high-growth companies at every stage of their development.

This entry was posted on Thursday, May 15th, 2008 at 8:29 am and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.