No sooner had the ink dried on Facebook’s new financing than the Facebook bashers hit the streets again:
Don’t be fooled: Facebook’s not worth $10bn now
Yells Breaking Views.
The point of the article is valid–DST bought preferred stock, not common stock, so the common valuation is considerably lower than $10 billion. But when was the last time you saw an article about a successful private financing lead with the concept that you have somehow been fooled and that the REAL valuation is less than meets the eye?
Here’s another way Breaking Views could have told the story:
Financier-Supreme Mark Zuckerberg Does It Again, Raises $200 Million In Exchange For Only 2% Of His Company Deal follows extraordinary sale of 2% of company to Microsoft at an even higher valuation
Because that’s the real story here, folks. Mark Zuckerberg has raised more than $500 million in the last two deals and given up only 5% of Facebook. Show us another entrepreneur recently that has gotten that good a deal for himself and his shareholders and employees, especially in this economy.
And what part of 300+ million uniques do these Facebook bashers not understand?
See Also: Facebook Is Now Underhyped