So I was wrong, and Mark Zuckerberg was right to not sell his company for 3/4th of a billion to Yahoo. The prices since then have only gone up – even if they are prices of perceptions. Microsoft has been linked to them with a price tag of $6 billion. Max Levchin, founder of Slide said that Google or Yahoo will have to sign a $10 billion-check if they wanted to buy Facebook.
Dave Winer says who cares what the price tag is – $8 or $10 billion, because Facebook is a company that enables “fewer networks of friends.” And on top of that there has been a lot of talk of a Facebook IPO, because of a video that got taken down, a job posting and well, a summer sun-induced delusion that has swept the valley.
The Fortune iMeme conference was no different. Everyone was talking about Facebook. I was breakfasting with another social network CEO while Jim Breyer was talking about Facebook on a VC panel along side Mike Mortiz of Sequoia Capital. Barrons’ Tech Trader Daily blog did a nice recap of the panel, and here is what Breyer said:
The company will do well over $100 million in revenue, and profitable, and significant EBITDA positive this year.
When asked what would be an impetus to sell Facebook, Breyer said part of it would be price, and then went on to say that they sold some of their companies too early. He gave the example of Perabit.
So is he saying that they want to go I-P-O with Facebook? I think yes, unless of course someone shows up with $10 billion. Given that I was wrong on the price tag the first time, I am going to shake my head quietly and head to the hills this weekend.