IT’S a beautiful day for U2’s Bono and the Edge who have seen their stake in Facebook elevate to new heights.

A MASSIVE investment by a major Wall Street bank into social networking site Facebook brings its value to $50bn (€37 billion), making it worth more than Time Warner, eBay and Yahoo.

Social networking site Facebook has landed a cash injection from a major Wall Street bank which values the company at $50bn (€37.54bn), it was reported today.

A published report says social networking behemoth Facebook has raised $500m (€375m)from Goldman Sachs and a Russian investment firm in a deal that values the company at $50bn (€37.5bn).

Moscow: Facebook, the most popular social-networking website, can take more time to decide on an initial public offering after Russia’s Digital Sky Technologies bought a stake, the head of the investment group said.