It’s been hard finding any Facebook bears out there amid the news that Goldman Sachs and its clients will invest $1.95 billion in the company at a $50 billion valuation.
Well, we found just such a bear!
Meet Thomas Heilmann, co-founder of German advertising agency Scholz & Friends AG. He thinks Facebook’s stock is too pricey and he’s sold his stake.
His problem? Facebook revenues are around $2 billion, and he doesn’t think the company will grow enough to justify a 25X multiple. (Also, he seems annoyed that he doesn’t actually know Facebook’s real financials. Fair enough.)
In the video, Heilmann says he’s taken a nice profit on his sale.