Elevation Partners made a $120 million purchase of Facebook stock from private shareholders in 2010, on top of a smaller 2009 investment. Those investments will net the firm a nice payday. At the time, the 2010 deal valued Facebook at $23 billion. Now, that 2.2 percent stake could be worth as much as $1.4 billion.
Elevation Partners is a private equity firm with a focus on media, technology and entertainment companies with an extensive portfolio that includes Yelp, Forbes and Move, as well as a network of real estate websites. Co-founders include U2 frontman Bono, Robert McNamee and Fred Anderson, a former Apple chief financial officer.