Facebook has nearly 200 million users which is double what it had last August. It is also the top photo sharing site with more than 15 billion images uploaded. If each picture was a golf ball, 15 billion golf balls would fill up 15 major league baseballs stadiums. That’s a lot of golf balls.
The CEO of Facebook, Mark Zuckerburg is only 25 years. Him and his three roommates while at Harvard started facebook. The most notable investors are a series of venture capital firms but the one you may know well is Microsoft. Microsoft still has a 1.6% stake in the company. Yahoo and Google offered 1 billion and 2 billion respectively but the Facebook leadership turned them down. This was in 2006. They believed that there was a lot more upside to this company and took the chance and turned the offers down.
What is the value of Facebook? It’s not a public company so we don’t know for sure but just this week, a Russian Internet group, Digital Sky Technologies estimated its value at 10 billion dollars. Not bad for a site started by a couple of college buddies.
Will Facebook go public any time soon? It doesn’t look like it but I can tell you this: If they do, I’ll be in line to get in on that IPO.