Thursday, March 04, 2010

Facebook Founder In No Rush to 'Friend' Wall Street - WSJ.com

Excerpt from an extensive Facebook snapshot

"The company is definitely set up in a way where myself and the other founders have a lot of control over it," he says. Investors who signed on, he adds, "understood that they fundamentally weren't going to be able to push us in a direction that we wouldn't want to go."

Any IPO timing is squarely in Mr. Zuckerberg's hands. He owns more than a quarter of Facebook's stock and controls votes for three of five board seats, say people familiar with the matter. A Facebook spokesman declined to comment on the board structure or Mr. Zuckerberg's ownership.

[ZUCK_jmp]

Facebook Founder In No Rush to 'Friend' Wall Street - WSJ.com

1 comment:

Anonymous said...

Jessica Vascellaro’s cover-story in the WSJ seats Facebook in a tension between going public and Zuckerberg’s remarkable ability to “delay gratification” and take a seat in “a long queue of tech barons with grand ambitions.” The real story, however, may be in her subtle jibes at one who might become “world’s richest twenty-something.” More than a thinly veiled personal attack, Vascellaro may be hinting at something more substantial: that the question of privacy in the 21st century will be meaningfully shaped by an ambiguous and controlling figure.

http://stilltitled.com/2010/03/04/privacy-ambiguity-zuckerberg/