To date, Mark Zuckerberg, has shied away from selling his company, Facebook, even with offers of several hundred million. The most recent was Viacom Inc. (VIA-B) with an offer of $750 million. Yahoo! Inc. (YHOO) has come forward to make an offer, confirmed by two industry executives speaking on the condition of anonymity, in that last couple of weeks.
Yahoo has made an offer of $900 million, it's second offer since one it offered in July of this year. Facebook is profitable with revenue of less than $50 million this year and hopes of taking in $100 million next year.
Yahoo's attempt at building it's own social networking service, called Yahoo 360, has had limited success largely because it is seen as unrelevant by younger people. The acquisition of Facebook could solve many problems and help them get a grip on the younger demographics. Basically, they need to buy their way out of it.
Know More about social networking at SocialRiots.com.
Isn't it crazy? I wonder if it will go through...
It's hard to believe FaceBook will go for that high, it's nuts.
Posted by: Robyn Tippins | September 22, 2006 8:24 PM | Permalink to Comment