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December 15, 2006

Speculation: No Yahoo! Facebook Deal

By Li Evans

Facebook Bloomberg is reporting that the speculation swirling around an impending Yahoo! acquisition of Facebook, is likely NOT to happen.  Yahoo! supposedly offered $1 billion for the social networking site that is aimed at the college aged student market.  It seems that Mark Zuckerberg and the board have decided to turn down the offer in lieu of building out the company.

In their estimates, Facebook is likely worth closer to $8 billion.  Speculation of an imposing deal from Yahoo! began to gain steam back in September of this year, but cooled off.  Then last weekend apparently it started up again, but board member Peter Theil says "The plan is to actually build it, maybe at some point take it public, but definitely not to sell it."

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