February 04, 2009

Facebook Turns Five

Happy Birthday Facebook. Everyone needs another time suck.

Yet questions still remain about the finances behind Facebook's remarkable expansion. The company has attracted more than $200 million in investment from venture capitalists while in 2006 it rejected a reputed $1 billion bid from Yahoo!

In 2007 Microsoft paid $250 million for a 1.6 percent share, a figure that gave Facebook a total projected value of some $15 billion.

I don't know, I probably would have sold it. But maybe that's why I am not the guy sitting in the penthouse. ;)


~ Sarah ~ said...

or maybe they were too busy poking people and checking out their "friends" profiles to truly consider proper business decisions :P

Jack said...

Good point. I hadn't thought about that.