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Facebook appraisal pegs company's value at $3.7B
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Facebook fought fiercely to keep the details of its market value and the ConnectU settlement under wraps. Before last June's hearing, Facebook lawyers persuaded Ware to remove reporters from a San Jose courtroom so the final details could be hashed out in private.
Large portions of that hearing are redacted in a transcript of the June hearing, but The Associated Press was able to read the blacked-out portions by copying from an electronic version of the document and pasting the results into another document.
Under their settlement, Facebook agreed to pay ConnectU $20 million in cash and 1,253,326 shares of common stock. The stock was worth $45 million, based on the Microsoft valuation, but only $11 million under Facebook's own appraisal.
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