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Facebook to be Aquired by Big Company for Big Money
Sep 21 2006, 5:22am CDT | by Luigi Lugmayr
Social networking start-up Facebook is apparently in talks with Yahoo!, Microsoft and Viacom to sell-out for big cash reports the WSJ (Subscription).
Facebook was in the news recently because of its users rioting against a new feature. What will the Facebook users do when Yahoo! owns them?
mySpace survived the buy-out by Murdoch, and I guess so will Facebook.
Facebook's founder is 22 year old Mark Zuckerberg. As the WSJ article reveals he likes to sleep in and work late.
Apparently Yahoo! already made an offer valued at $1 billion for Facebook.
It is still open if Facebook is really selling. It has venture capital backing. VCs want to see a return on investment. I am not sure if they actually think Facebook would be successful in going public.
Lots of more details in this long WSJ story.
See also the facebook site.
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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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