Facebookis “probably not worth $60 billion today,” but it could be “at some point,” Michael J. Price, senior managing director of the investment consulting firm Evercore Partners, told CNBC Wednesday.
”My own personal investment opinion is that these companies [such as Facebook, Zynga and Groupon] are ahead of themselves relative to valuation,” added Price. He added that the “point in time” for Facebook could be a year from now.
Facebook, the popular social networking site, raised $500 million from Goldman Sachs earlier this year. A Russian investor values the company at $50 billion, while others have put the valuation $10 billion higher.