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TRIPLEPOINT CAPITAL PROVIDES $100 MILLION FINANCING TO FACEBOOK
MENLO PARK, Calif. (May 12, 2008) – TriplePoint Capital, the leading technology and life sciences specialty finance company, today announced that it has provided $100 million in debt financing to Facebook, Inc., the industry-leading social utility, which previously secured more than $300 million in equity funding from Microsoft and other investors last fall.
"TriplePoint Capital is pleased to continue our role as a major financing partner and supporter of Facebook – a role that began during the Facebook's pioneering stages," said TriplePoint Capital CEO and co-founder Jim Labe. "We've enjoyed watching Facebook's success over the years, and look forward to deepening our partnership with them as they continue to mature and their needs continue to evolve."
TriplePoint Capital provided more than $30 million of debt financing to Facebook prior to the recent close. The company has been the sole provider of debt financing to a number of high profile companies in the technology, life sciences, and clean technology ("cleantech" categories) including YouTube, Adify, Slide, Coskata, Ilypsa Pharmaceuticals, and numerous other companies. TriplePoint Capital's permanent balance sheet, creativity, and dedicated customer service all help to build long term partnerships with their customers. The company provides a full range of financial services and expertise to meet the needs of high-growth companies around the world at every stage of their development.
Founded in February 2004 by Mark Zuckerberg, Facebook helps people better understand the world around them by developing technologies that facilitate the spread of information through social networks. The site has 70 million active users in over 47,000 geographic, work-related, collegiate, and high school networks. According to ComScore's MediaMetrix report, Facebook ranks as the sixth-most trafficked site in the United States. Facebook is privately held and headquartered in Palo Alto, Calif.
About TriplePoint Capital
TriplePoint Capital is the leading global specialty finance company devoted to serving high-growth private equity and venture capital backed companies throughout their lifespan with debt financing, equity capital, and complementary services. With unparalleled levels of creativity, flexibility and customer service, TriplePoint Capital has been the sole debt financing provider to YouTube, Adify, Slide, Coskata, Ilypsa, and numerous other high profile technology and life sciences companies. TriplePoint Capital is uniquely qualified as the only provider equipped to meet the needs of high-growth companies at every stage of their development. Headquarted on Sand Hill Road in Menlo Park, California, TriplePoint Capital partners with high-growth companies around the world.