Archive for May 20th, 2009

I guess that the economic crisis only apply to some. Here is a report by way of Digital media Wire.

“Palo Alto, Calif. – Facebook, the online social network with more than 200 million members, earlier this month turned down funding that would have valued the company at $8 billion, the blog TechCrunch reported on Tuesday, citing a source “with direct knowledge of the proposed transaction.” The company reportedly turned down the $200 million in proposed funding because of a stipulation that would have required it to give up a board seat, with founder Mark Zuckerberg intent on keeping control of the board, according to TechCrunch.

The blog also reported that “investors are now being told the company expects $550 million in 2009 revenue,” well above previous projections of up to $400 million”

Read the full article here.

Related article can be found here: TechCrunch, Blogrunner, Social Median, Seeking Alpha, Dintz,

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