Facebook Now Not For Sale

Posted on December 15, 2006

Facebook is a social network that became very popular by focusing on high school and college students. Recently, Facebook opened its doors wider to include more faces. There have been sale rumors about Facebook all year long but Bloomberg reports that Facebook says it is no longer for sale. Facebook also thinks they are worth $8 billion.

Facebook, the social-networking Web site courted by Yahoo! Inc., isn't for sale, board member Peter Thiel said.

"It's going to remain an independent company," Thiel said in an interview last week. "The plan is to actually build it, maybe at some point take it public, but definitely not to sell it."

Facebook, having turned down a $1 billion offer from Yahoo, is taking a different path than YouTube, which sold itself to Google Inc. for $1.65 billion, and MySpace, now owned by News Corp. Thiel, one of Facebook's three board members, said the company is focused finding the best way to make money from its millions of members.

Started in 2004 by Harvard University student Mark Zuckerberg, Facebook is now one of the fastest growing sites on the Web. Thiel, 39, says the site's college-aged users make it worth $8 billion or more, as much as Viacom Inc.'s MTV music video channel.

Hopefully, Facebook's founders won't regret not landing some kind of deal like the Friendster founder apparently did.

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