Facebook CFO Gideon Yu is still looking for funding at the $15 billion valuation Microsoft set purchasing 1.6% of the company for $240 million in the company in Fall 2007*, Facebook CEO Mark Zuckerberg told TechCrunch:
[Zuckerberg] confirmed that Facebook’s $15 billion valuation round was still open and that CFO Gideon Yu was open to new investors at that price. But he denied that Facebook was pitching for new money at a lower valuation. ‘We’re not actively going around trying to raise money from a lot of different people. It’s more just a follow on to that [previous round].’
Considering Facebook had to cancel an employee stock sale program because it couldn’t find buyers for its employees’ shares at a $4 billion valuation, Yu’s quest to keep the $15 billion round open seems ambitious if not downright quixotic as he travels to locations as remote as Dubai…
Tags: Facebook
