Facebook CEO Mark Zuckerberg sits down with TechCrunch and reveals that the social networking giant is looking for more funding in the $15 billion valuation range, a price that was set when Microsoft
purchased a 1.6% stake in the company for $240 million in the Fall of 2007. "We're not actively going around trying to raise money from a lot of different people. It's more just a follow on to that
(previous round)," Zuckerberg said.
However, the
Silicon Alley
Insider notes that Facebook had to recently cancel an employee stock sale program because it couldn't find buyers for their shares at a $4 billion valuation, which makes CFO Gideon Yu's mission to
keep the $15 billion round open "ambitious if not downright quixotic", says SAI's Nicholas Carlson.
That said, preferred shares like the ones Microsoft got are certainly on offer here, which
means these investors would their money back first in the event of any sale.
Read the whole story at TechCrunch/Silicon Alley Insider »