PALO ALTO, Calif. --
Facebook is now believed to be valued at $70 billion. That estimate was made by analysts after GSV, a publicly traded investment firm, announced that it's invested more than $6.6 million in the site.
Shares of GSV shot up 41 percent on the news.
Facebook, which is a privately held company, has not commented on the report.
The social networking site is expected to go public next year.