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Yahoo Tries to Woo Facebook With $900 Million
Krishna Dagli writes writes to mention a New York Times article on Yahoo!'s attempt to buy Facebook. Their current standing offer is $900 Million, with the deal including a degree of autonomy for the site and founder Mark Zuckerberg still in charge. From the article: "When Viacom offered $750 million for Facebook in January, he asked for $2 billion and was rebuffed, according to a person involved in the negotiations. Now, he remains undecided about the latest offer, made in the last few weeks by Yahoo. That offer, first reported by The Wall Street Journal, was confirmed yesterday by two industry executives, one briefed on the deal by Facebook and the other by Yahoo. Both spoke on the condition of anonymity because the negotiations are continuing."
It sure sounds like much, but it isn't. Some of it will be in Yahoo stock (PITA to unload), and nearly half of it will be taken away in taxes!
Instead, the owner currently has $50m/year tax-free (since he re-invests ALL of it into the company). This is projected to double next year.
Also, considering his aspirations of becoming the next Jobs or Brin, perhaps selling off is not the best idea?
Obama likes poor people so much, he wants to make more of them.