Typically you don’t find Wall Street investing in companies that haven’t gone public but as we all remember the fuss that was raised when Goldman Sachs invested in Facebook last year this practice seems to have changed.
It is being reported in the Wall Street Journal that mutual-fund company T. Rowe Price has invest some substantial money in two of the biggest web companies around.
T. Rowe Price announced that they have invested a total of $190.5 million in Facebook which amounts to $25 per share that is being spread across 19 different funds.
They also disclosed that besides the Facebook investment they have dropped nearly $72 million into Zynga and taken a $34.5 million stake in Angie’s List.
The Facebook investment compliments other tech holdings at the firm, including a 2009 stake in Twitter Inc. and an investment made in Groupon Inc. late last year. T. Rowe has previously made investments in Ning and YouKu.com.