Facebook founder turns down $1.6 billion

Mark Zuckerberg , 22 , founder of Facebook social networking site and being labelled as the next Bill Gates told Yahoo , the internet giants that $1 Bn is not enough to get Facebook and some leaked documents suggest that yahoo was willing to raise the money to $1.6 billion .

Mark , a harvard dropout founded Facebook for Harvard students in 2004 has become the seventh busiest website on the internet and is the second largest social networking site in the US . One reason for its popularity is that it allows users to ensure that only people from there university or workplace are put in touch . The site has also been blamed for carrying abuse  about students and teachers ..

Mark’s stake at the company is thought to be around 30%  worth 550 mn and people are saying that he rejected the offer as he feels he can do much better and also he wants to avoids the complexities of Corporate life  . Its been said that Microsoft abandoned the meeting with him scheduled at 8am as he said he was still in be by that time ..

What do you people feel ..was it a good decision or bad ..?

One Comment

  1. jhay says:

    If he is the ‘next Bill Gates’ then his decision was a good one. How could you surpass Gates with just $1 bn?