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- According to the New York Post, Facebook has just held informal exploratory meetings with Providence Equity Partners, General Atlantic, Bain Capital, Kohlberg Kravis Roberts and others. The article cites Facebook to be looking for fresh capital at a $5 to $6 billion valuation, however no one is willing to shell out for more than a $2 billion to $3 billion range. (Wauters, TC)
- People familiar with the matter, are claiming Facebook’s attempt to raise additional capital is creating quite a stir among existing investors, which includes Accel Partners, Greylock Partners, Meritech Capital Partners, Microsoft and Peter Thiel. Microsoft feeling it the most, jumping in at a $15B valuation with a quarter million dollar investment, that in this state may have earned them about 8% of the company. People like Thiel say it’s time to start making money off of the user base, which at this point is causing the company harm it’s so large (200+ million now)
- Facebook may not have a lot of choice when it comes to what valuation they will take money. The company is burning through at leat $20 million a month in cash and cannot stop their unbelievably quick (but unmonetizable) growth internationally. If things keep going the way they are, Facebook could be out of money by 2011. Time to start charging?
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