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188 Comments
- geekchic, on 03/07/2008, -8/+88"While in fact Microsoft valued Zuckerbergs Facebook already at 15 Billion Dollar"
No they didn't - it's a myth which has a remarkable tenacity to survive.
Microsoft did indeed pay US$240 million for 1.6% of the company AND an agreement to extend their exclusive ad sales contracts.
You could argue in fact that the $240 million was nothing more than a down payment for the future ad sales commissions and that the 1.6% stake is worthless to the company, although I wouldn't go that far.
It is certainly true though that the expansion of its online advertising reach was vastly more valuable to Microsoft than the equity stake in the company.
I do wish we could kill the myth that Microsoft's investment put a valuation of $15 billion on Facebook - it didn't - Sassmo, on 03/07/2008, -16/+77Too bad he stole the whole idea from someone else...
- sdellboy, on 03/07/2008, -6/+50Yes. It's unusual for someone to take a concept, improve on it and then market it better. Thank god the human race has the ability to do that or we'd all still be running around with spears.
- sdellboy, on 03/07/2008, -2/+44Yes, but is he happy?
Hmmm. Probably. - stupidverizon, on 03/07/2008, -2/+44I'm so ***** jealous.
- inactive, on 03/07/2008, -2/+39Nice.
Stealing ideas from your classmates really does pay off. - inactive, on 03/07/2008, -9/+45I hate Facebook.
- fkr3, on 03/07/2008, -2/+37....
He should take his money and get out now while the exchange rate between real dollars and hypothetical dollars is in his favour. - JP42, on 03/07/2008, -1/+35Facebook is like meeting up with your friends at the dollar store, and then being continually harassed to buy trinkets while your trying to have a conversation.
- Shaman760, on 03/07/2008, -0/+28"Youngest, Wealthiest Douchebag" is how it should have read.
- m0zzie, on 03/07/2008, -3/+28i remember thinking "holy ***** *****, he's only 30" when Tom sold MySpace to Yahoo for $500mil
..zuckerberg is 23 and technically speaking has doubled that feat. i'm almost 22, software engineer, well paid.. but i simply cannot comprehend that sum of money for someone who is a year older than me. *****. - coppyrightmind, on 03/07/2008, -7/+32But Facebook is actually partially owned by Microsoft whose board of directors includes Jack Johnson who is a co-advisor of DARPA, which rhymes with ARPAnet which was started by the CIA as a secret project to collect information and spy on prepubescent boys... can you really trust Facebook?
- kss42, on 03/07/2008, -0/+21Oog stole spear idea! Thorg was first to tie sharp rock to stick. Thorg file lawsuit!
- SIRBERUS, on 03/07/2008, -1/+19The difference is that Kevin Rose never worked at Slashdot with full access to their code, only to disappear and miraculously start up Digg.
If it's true, then Zuckerberg is a douche for stealing code, or atleast ideas. - GinsuGuy585, on 03/07/2008, -4/+221. Sell to google
2. ???
3. Profit, and everybody wins. - dtele, on 03/07/2008, -2/+19"Would it really fetch that much today? Some analysts - and a few Facebook investors - doubt it"...It said it based its valuation on Facebook's estimated annual sales of $US150m. http://www.news.com.au/dailytelegraph/story/0,2204 ...
- coppyrightmind, on 03/07/2008, -0/+16sorry, I totally got carried away.
- Railz, on 03/07/2008, -0/+15Ya, but then later turns exactly into it.
- JerodSlay, on 03/07/2008, -0/+15"world’s youngest US billionaire"
which one? US or world? - DonJohnTom, on 03/07/2008, -1/+15i heard about this on the view this morning, which leads me to my next question, why was i watching the view this morning?!
- fkr3, on 03/07/2008, -8/+22BUT 15 BILLION DOLLAZZZZZZZ!!!!!!
I'd take the $1.5b and get out before he wakes up and discovers [clone] is the new darling of the internet personally. $1.5b in the hand is better than a hypothetical $x billion that can disappear overnight like last time. - inactive, on 08/11/2008, -3/+16Never underestimate the power of a lonely geek and PHP.
- gdgi, on 03/07/2008, -0/+12To put it another way:
1) How many employees does Facebook have?
2) what is their monthly expenditures (hosting / bandwidth / overhead)
3) what is their monthly revenue?
I can list dozens of supposed multi-million dollar companies that can barely meet payroll - all they are doing is blowing investor cash - and investment isn't profit - it's hard money that has to be paid back PLUS profit percentage.
Even with microsoft just 'giving' them millions of dollars, this doesn't go directly into his pocket - from what I've read, Facebook doesn't make a whole lot of actual money for what they do. Hence the sudden appearance of ***** 'sponsored links' everywhere on their site these days.
Running Google (or microsoft) ads do not make someone a multimillionaire, i've tried that too ;} - gdgi, on 03/07/2008, -3/+14Pile of complete *****.
Valuation has absolutely ZERO to do with what the guy has in the bank today. What is Facebook's ACTUAL revenue per year - what is he actually worth? Stock in a private company is effectively useless UNTIL it either goes public OR gets bought by someone for that actual 15 billion.
Every dot com wannabe can claim that their company is worth 100 billion dollars, but it doesn't make it so and doesn't mean that they have enough money in the bank to pay rent next month.
You'd think that people would have learned this by now.
***** 100% - lunarcanary, on 03/07/2008, -0/+11Hard truth. This position is temporary and exaggerated -- His wealth isn't diversified like other billionaires -- instead it's solely facebook stock. Facebook is a fad -- and fads eventually bubble.
- Brad324, on 03/07/2008, -1/+12yeah, until you take a spear to the face
- lunarcanary, on 03/07/2008, -1/+12How about an arrogant guy who was ***** at PHP and hired serfs with his parents' capital and harvard connections to make the site?
- inactive, on 03/07/2008, -0/+11I'm not surprised at all. While every gender of any age is susceptible to Facebook addiction, females from teens to mid 20s seem to be obsessed with Facebook as well as Myspace. I love when I go to class and some girl is browsing Facebook for the entire ***** class. Why even go when all you're going to do is tune out and mindlessly peruse facebook.
- jmreid, on 03/07/2008, -1/+11No, what he's saying is that the 240 million wasn't just for 1.6% of the company. It was for 1.6% of the company AND an agreement to extend their exclusive ad sales contracts. So, lets say 200 million of the money was for the agreement to extend the ad sales contracts and 40 million was for 1.6% of the company. That's 2.5 Billion for Facebook. You see how 15 billion could be a myth, right?
- coppyrightmind, on 03/07/2008, -1/+11at this rate, I'll never succeed in life.
- whatthefu, on 03/07/2008, -0/+10Facebook is one of those things that you REALLY wish you could've come up with first because it seemed so obvious. I mean, it fixes all of MySpace's stupid ass flaws.
- z3021017, on 03/07/2008, -0/+10Fa¢ebook.
- inactive, on 03/07/2008, -0/+9wow very original, is there a master card priceless joke you might also have?
- echelon309, on 03/07/2008, -0/+9Sounds like a good businessman.
- zephyr42, on 03/07/2008, -5/+14not slashdot though
- dinostabOMG, on 03/07/2008, -0/+9How else is she going to find people to add to facebook?
- piratearggghhh, on 03/07/2008, -0/+9I'm also a member of Fascistbook
- cwshea, on 03/07/2008, -1/+9There is no step two.
- inactive, on 03/07/2008, -2/+9So...YOU would imagine that you know more than Frobes does..even though you are basing it on nothing but a GUESS, while they are applying many years of EXPERTISe to come up with that value.
Holy ***** *****. The Napoleonic complex here on Digg is amazing. You all think you are smarter than the experts on everything. You are NOT smarter than ANYONE. No one ***** cares what you GUESS they make based on absolutely NO insider information. The fact that you LIKE the site does not make your financial opinions on it valid at all. - EricPeters, on 03/07/2008, -0/+7Description: icanhazcorrectgrammar?
- sKiLLa182, on 03/07/2008, -1/+8Yeah, you totally got board of director's name wrong. How do you expect to lead a proper conspiracy theory?
- lunarcanary, on 03/07/2008, -0/+7http://img411.imageshack.us/img411/299/onionmagazi ...
- Grimdotdotdot, on 03/07/2008, -0/+6It was all fun and games until the woman at the bar waiting for you was your mother, I bet.
- Gabberwok, on 03/07/2008, -1/+7Despite looking like he does, I'm sure he could get more ass than a subway seat. Not only is he rich but sadly enough I'm sure there are plenty of girls on Facebook who would go after him just for bragging rights.
- LBobRife, on 03/07/2008, -0/+6Well that's the first time that a Digg headline has ever been inaccurate.
- yellowsnowcone, on 03/07/2008, -0/+6But how much cash does he have in the bank? That's a theoretical billion. He'll be well off soon, but he doesn't yet have a billion cash in the bank.
- djmphoto, on 03/07/2008, -0/+6Kinda makes me depressed...here I am at 26, and I'm broke.
- ByteGuerilla, on 03/07/2008, -0/+6And replaces them with FACEBOOK APPS.
- killerofkiller, on 03/07/2008, -2/+8World's youngest billionaire in USD
- jmreid, on 03/07/2008, -0/+6I was in an internet cafe on an island in Thailand. 30 or so computers and every single one was used (it was raining).
Every person in the place was on Facebook. Everyone. That really speaks to how useful it is as a communications device.
Of course, I was going in there to go on Facebook as well... -
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