You have to laugh at the news yesterday that when speaking at the Reuters Global Technology Summit, Zuckernozzle said he has no plans for taking Facebook public for the next few years. TechCrunch said earlier on Tuesday that Facebook had turned down a $200 million funding offer, which valued the company at $8 billion. Earlier this week, VentureBeat reported that Facebook was in discussions for $150 million in funding. You have to wonder if they pull these insane valuations out of their arse. Remember In 2007, Microsoft Corp invested $240 million in Facebook in exchange for a 1.6 percent stake in the company, which gave the start-up a valuation of $15 fucking billion. Now pardon my fucking ignorance, but am I right in thinking a “Valuation” means what the company is valued at? If so, even if you are now the biggest social network in the universe… How the fuck do you sell $15 fucking billion in advertising and services. Especially as I am now no longer on Facebook and will not be buying shitloads of virtual shit to send to all my douchenozzle “friends!”
What the fuck!!!