By Ben Parr2011-01-03 01:01:21 UTC Under the terms of Facebook's massive new round of funding, Goldman Sachs will invest $450 million in the social network, while previous investor Digital Sky Technologies will add an additional $50 million. Not only that, but Goldman Sachs will help Facebook raise an additional $1.5 billion through a "special purpose vehicle" designed to allow outside investors to indirectly invest in the company. Facebook had previously raised $800 million, so when all is said in done, the social giant will have raised an astounding $2.8 billion. What will Facebook buy with all that new cash? The first thing Facebook's likely to do with its $2 billion in new funding is to cash out some of its existing investors and employees. The social network previously did this when DST bought $200 million in Facebook stock from its employees. Some of its early investors may also reach into the $2 billion pot and cash out. Once that's done, it's all about growth. We've … [Read more...] about What Will Facebook Do With All That Money?
The Federal Trade Commission has extended the claim filing deadline for its $586 million settlement with Western Union. Consumers who’ve previously lost money to a scammer that took payment through Western Union now have until May 31st to file a claim and recoup those funds. The settlement covers a wide range of potential victims; anyone who got scammed between January 1st, 2004 and January 19th, 2017 is eligible to submit a claim. You’re not necessarily guaranteed to get all of your stolen cash back, however as the FTC says “the amount you get will depend on how much you lost and the number of people who submit valid claims.” The process of going through those claims might take up to an entire year, so don’t expect repayment anytime soon. A social security must also be provided, as the Justice Department will check to see that you don’t owe the feds any money. If you do, it’ll come out of your refund amount. If you got duped multiple times … [Read more...] about FTC gives internet scam victims more time to get money back from Western Union
The Trump administration wants to end direct NASA funding for the International Space Station by 2025 — but that doesn’t necessarily mean the US will stop sending people into orbit around Earth by then. Instead, NASA hopes to transition the domain of lower Earth orbit, where the space station resides, to the commercial space industry over the next seven years. But what would it take for private space companies to take over this area of space — and what exactly would they do up there? An option would be for one or more companies to take over full-time management of the International Space Station (ISS). But the orbiting lab is expensive to fly: NASA spends between $3 billion and $4 billion each year to keep the station afloat, and that’s money that most commercial companies either don’t have or aren’t willing to spend. Multiple astronauts and flight controllers also have to work around the clock to keep the ISS running at all times, and the private … [Read more...] about How the private space industry could take over lower Earth orbit — and make money off it
President Trump's new 10-year plan for "rebuilding infrastructure in America" doesn't contain any funding specifically earmarked for improving Internet access. Instead, the plan sets aside a pool of funding for numerous types of infrastructure projects, and broadband is one of the eligible categories. The plan's $50 billion Rural Infrastructure Program lists broadband as one of five broad categories of eligible projects. Here's the full list: Transportation: roads, bridges, public transit, rail, airports, and maritime and inland waterway ports. Broadband (and other high-speed data and communication conduits). Water and Waste: drinking water, wastewater, storm water, land revitalization, and Brownfields. Power and Electric: governmental generation, transmission, and distribution facilities. Water Resources: flood risk management, water supply, and waterways. Eighty percent of the program's $50 billion would be "provided to the governor of each state." Governors would … [Read more...] about Trump’s infrastructure plan has no dedicated money for broadband
This is part of "Blockchain Decoded," a series looking at the impact of blockchain, bitcoin and cryptocurrency on our lives. You probably don't know the name Matthew Lesko, but you might recognize a man in a question mark suit holding wads of cash. Lesko, an author based in Washington, DC, was a snapshot of the 1990s, much like Milli Vanilli and Pogs. He gained national recognition as the "Question Mark Guy" for his Riddler-esque suits, which he wore in his commercials yelling about getting free money from the government. If you're not familiar with his ads, here's a taste: While his commercials disappeared with the decade, the promise of easy money remains. Consider the lure of cryptocurrency, a digital technology touted as an alternative to the money issued -- and regulated -- by governments. Bitcoin, the best known of the bunch, has soared in value over the last year, reaching a peak of nearly $20,000 in December before settling to about half that value in recent weeks. But … [Read more...] about ‘Free Money’ guy from the ’90s bursts the bitcoin bubble