Facebook turns down funding; ups revenue projections
TechCrunch is reporting that Facebook has turned down a potential $200 million VC funding round which would have valued the company at $8 billion. The sticking point appears to have been the demand by the potential investor of a seat on the company’s board. What’s more, the article suggests that the social network is telling investors that it expects to reach $550 million in revenue this year, up from $280 million last year.
Source: TechCrunch – http://tinyurl.com/r5xbvu
Tags: facebook, revenue, vc funding
May 25th, 2009 at 12:24 pm
One way facebook seems to be doing this is by adding a paid option for applications, getting apps to the top of searches, similar to google adwords.
June 4th, 2009 at 7:02 pm
I like facebook for social networking and keeping track of my friends but its no bueno when it comes to discovering bands. I find the layout of myspace to be nauseating so I’ve been using http://www.putiton.com to find and follow new music acts.
June 16th, 2009 at 7:32 pm
Interesting stuff. I agree with Sam. I haven’t set up an account yet but putiton looks promising (I’ll probably do it later… just being lazy)