[Company X] Is Going to Buy Facebook

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[Company X] Is Going to Buy Facebook

Is Facebook for sale?

© iStockphoto.com/AndrewJohnson

For most 20-somethings, a billion dollars would sound like a lot of money, but not for Facebook CEO Mark Zuckerberg. After running Facebook for two years, Zuckerberg entered into talks with Yahoo! to discuss selling the company. Facebook competitor MySpace sold for $580 million only a year earlier and had more users than Facebook at the time, so Yahoo! likely felt that offering a purported $ 1 billion for the Web site was more than generous [source: BBC]. Zuckerberg thought otherwise, opting to maintain ownership and control of the company, instead.

It turns out he made the right move; only a year later, Microsoft valued Facebook at $15 billion [source: Sloane]. Granted, Microsoft had its reasons for pinning such a hefty price tag on the Web site, essentially guaranteeing that none of its competitors could purchase Facebook as a result. Still, an early 2009 internal appraisal of Facebook's value placed the figure at closer to $4 billion, an amount still well above the $1 billion offered by Yahoo! [source: CBS News]. As for selling the company, the rumors seem to have died down for now. In a 2007 interview with Time magazine, Zuckerberg claimed that selling Facebook is "not the core focus" for the company. Instead, Zuckerberg says Facebook is busy finding the best possible way for people to connect online, which brings us to our next myth.

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