Facebook reportedly turned down an $8 billion valuation (nearly half of the $15 billion it was valued at when it raised $240 million from Microsoft 18 months ago) investment round because investors wanted to keep an eye on their money with a seat on the Facebook board. The company also claims 2009 revenue will be $550 million after booking $280 million in sales in 2008.
Notable Quote
“What Web 2.0 got right: Humans are not dumb terminals” — Miko Matsumura
Vice President & Chief Strategist, Software AG
Notable News
- Greylock Partners is packing up most of its Boston office and moving to Sand Hill Road (New York Times)
- Twitter has no plans to sell advertising (Reuters)
- Nvidia accuses Intel of unfair pricing practices (Reuters)
- AT&T could be preparing to knock prices on the next iteration iPhone down to $99 (BusinessWeek)
- Former Yahoo President Sue Decker has become an executive-in-residence at the Blackstone Group (BoomTown)
- Based on the valuation that Tesla is saddled with in the Daimler deal, the car company could be worth less than Twitter (BusinessInsider)
