Facebook Success can be Yours
If you’ve been following facebook for the past couple of months you have probably heard about possible acquisition of the company. Back in April when interviewing co-founder Chris Hughes he responded with:
Question: I hear facebook is up for sale, true? If so, what to you envision happening to facebook once it’s acquired?
I think you’re referencing the Business Week article from last week. That piece, and the rumors that have circulated about the Internet since, are nothing but speculation. We do not comment on rumors.
Rumors, eh? Well based upon all the “rumors,” founder Mark Zukerberg has been holding out for a $2 billion offer in order to let go of the company. Smart? Yes, I think so.
Many young entrepreneurs probably punched holes in the wall thinking about how facebook could be turning down the alleged $750 million offer – a company that has only been around for 2 years and started by a few college students at Harvard.
But I’m impressed with Mark’s high value that he places on his company. His acquisition rejection tells the world that he isn’t in the business of selling out his pride and joy for just anything. I’m sure that there’s more to the story than that, but in any case facebook isn’t just going to let go of their creation for a quick payday ( at least not until the money is right).
For many young entrepreneurs around the country seeing such massive success from a college student can be quite frustrating. The thinking may be “wow, I’m busting my ass everyday – day and night – to become successful and look at this dude Mark became successful almost overnight… grr…”
Well you can’t think like that. Any entrepreneur can achieve success such as facebook did. I’m not a big proponent of luck, but I’m sure that it plays a part when it’s mixed with some determination and ambition.
From the success of facebook, young entrepreneurs around the globe should become even more enthusiastic about starting a company and turning it into a raging success – it can be done!
Facebook was created to help connect students at Harvard. That’s they key: locate a problem and build a business around the solution to that problem. Get started today.
3 Comments
Anthony
August 15th, 2006 at 2:21 pm
I think there was a simpler reason to why the offer was turned down. Forget pride; it’s just a game of risk, kind of like the annoying show that everybody loves to hate - Deal or No Deal. Mark thinks there’s still a hell of a lot of growth left in social networking, so he thinks value will go up. Others, like MySpace, believe that they sold right around the peak. Who do I agree with? Not sure to be honest. But, I will say this - even if there is growth left, I don’t know if there’s $2 billion worth. Only time will tell.
Tuggle
August 17th, 2006 at 6:11 am
“Smart? Yes, I think so.”
Your the first person I’ve read that holds up that flag.
Let’s see facebook monetize their page views without losing their crisp look. Without that, IMHO, I think they’ll never get the buyer they seek.
David Askaripour
August 17th, 2006 at 8:21 am
You’re probably right about them never getting the proposed 2B, but I tend to believe that they will end up getting more than the $750M offer, the one they declined. Hence, them holding out for a higher bidder while holding onto their company.
It’ll be interesting to see what happens…
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