Double Blind

Apparently the guy that runs facebook.com turned down a $1.6 billion offer from Yahoo. I remember this happening before when a grotesque amount of money was offered for Pointcast (so-called “push” software which was all the rage in those days) and this was turned down.

I think social networking sites are at the same zenith and right now Myspace, Friendster and Facebook should be doing everything they can to cash out to the majors.

At least Mark Cuban knew how to do it – reportedly when Yahoo offered $5.7 billion for the company, he quickly said yes. Now he’s busy doing other stuff – running the Dallas Mavericks, as well as other ventures.

My prediction is that Facebook, in dropping this offer, will attempt to go public, but not receive nearly the valuation they did from this reported offer from Yahoo.

This entry was posted on Friday, December 29th, 2006 and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.