April 30, 2009
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 [...]
Read the full article →
January 28, 2009
AOL CEO Randy Falco’s letter to the staff about laying off 10 percent of its workforce (around 700 people). Falco blames the economy flattening advertising revenue. Looks like pouring money into Platform A, AOL’s advertising network which launched September 2007, wasn’t a good idea. Here is the letter:
Dear AOL colleagues,
I’m writing to tell you about [...]
Read the full article →
