Mark Zuckerberg was only 19 when he founded Facebook, the social networking site designed for college students. He is now 23 and has turned down a reported $1Billion offer from internet giant Yahoo!.
Early investor Peter Thiel who sits on Facebook’s board, believes that a measly $1 billion dollars for this 300-person company spread over three buildings in downtown Palo-Alto, California, is a risible sum! He compares Facebook’s current price tag to that of MTV, which he values at $7 or $8 billion!
Thiel says “Between the two I would want to own Facebook.” (Yea sure you would pal!!! That’s bull! You are an investor and you sit on the board, so what else would we expect you to say! It’s called great promotion and publicity! But you and every other wall street analyst know that’s a blatant lie!) Mark Zuckerberg and the people at Facebook are now talking about a possible IPO in 2 years that could potentially be the biggest public offering since Google.
This is very interesting being that Tom Anderson and Chris DeWolfe sold Myspace for a measly $580 million to Rupert Murdoch’s News Corp. Google picked up YouTube for $1.65 billion. We can see why Mark Zuckerberg and the gang are holding out. But the question is what makes Facebook worth $7 or $8 Billion??? We definitely don’t see how their value can measure up to that of MTV. We think Peter Thiel was definitely smoking something illegal when he made that bold unproven statement!