NEW YORK ( TheStreet) -- Facebook announced Friday it has raised $1.5 billion, valuing the social networking giant at $50 billion. The investment was broken into two parts: Goldman Sachs ( GS) clients outside the U.S. participated in a $1 billion fund that was completed on Friday, and Goldman and Russian firm Digital Sky Technologies separately invested another $500 million in December. Facebook said in a press release it has no plans to use the funds immediately, but that they will be used for continued expansion.
Goldman decided to exclude U.S. investors from the Facebook private placement after it feared that immense media scrutiny could attract the attention of the Securities and Exchange Commission. Facebook said that even before the investment from Goldman Sachs, it intended to pass the 500 shareholder limit. Under SEC law, a company that has more than 500 shareholders must disclose financial information, even if it isn't publicly traded. Facebook said it plans to start filing public financial reports no later than April 30, 2012. --Written by Olivia Oran in New York. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: email@example.com.