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Facebook Hemorraging Cash, Runs To Dubai For Money
Silicon Alley Insider —
... Facebook is "testing the capital markets," says TechCrunch's Michael Arrington, seeking more cash to stem its enormous burn rate. CFO Gideon Yu is reportedly in Dubai, where money used to be plentiful before oil prices crashed. ...
Facebook is An Expensive Business, Perhaps Too Expensive
All Facebook —
... As I frequently write, Facebook has been growing at an insanely fast pace. The company has grown to become the largest social network worldwide and it doesn’t appear to be slowing. As such, even with over $250 million in the bank as of less than 12 months ago, the company may be searching for funding yet again according to Mike Arrington. How does he know this? Well he points to Gideo Yu, the company’s CEO, traveling to Dubai this week. ...
Pilgrim’s Picks for October 31 - Happy Hallowiener Edition
Andy Beal's Marketing Pilgrim —
... Today’s Picks are especially spooky*
This could come in handy. Google’s Gmail will soon get text messaging features.
Worried about the state of the online advertising industry? Don’t worry, the IAB has five measures to save the day.
If 2009 sees a major recession, you might want to consider these 20 tips to delight your customers you do have.
Despite its success, Facebook may soon need to raise additional funding.
mediaForge hopes its new platform will help retailers ...
Is Facebook facing a cash crunch?
p2pnet news —
... news view | Advertising:- Are you a Facebook translator? And if you are, how much is the company paying you?
“We thought it’d be cool,” said Javier Olivan, international manager at Facebook in April.
“Our goal would be to hopefully have one day everybody on the planet on Facebook.”
And one of the ways it hopes to do that is to get users to do all the translating, said p2pnet.
For free.
Now, says TechCrunch, “There’s no doubt that Facebook is growing at a breathtaking pace.”
A ...
Around the Web 10.31.08: Halloween edition
L.A. Times Tech Blog —
... outlook for the near future is ghoulish, venture capitalists say. SF Gate
-- Sun Microsystems' earnings reports continue to terrify investors. NYT
-- An angry mob came after their version of Frankenstein's monster: the founder of campus gossip site JuicyCampus. WashPost
-- As it adds features and members, Facebook is sucking up money like a vampire sucking up blood. TechCrunch
-- The Acura TL's high-tech features are definitely more treat than ...
Report: Facebook looking to raise more money, fast
VentureBeat —
... Facebook’s growth to 110 million monthly active users worldwide has been so fast, that costs have been increasing more than revenue, and now the company is scrambling to raise money to pay for its gains. That’s what a report from TechCrunch says, at least, citing sources that place the company’s chief financial officer, Gideon Yu, in Dubai this week. Maybe Yu is trying to raise money from the sheiks? ...
Facebook CFO's excellent Middle East adventure [Gideon Yu]
Gawker: valleywag —
... Gideon Yu is flying back from Dubai today, we hear. His coworkers at Facebook are surely anxious to know what gifts he's bringing back — and we don't mean the duty-free kind. TechCrunch reports he was there on a fundraising mission. The Persian Gulf's sovereign wealth funds are swollen with petrodollars. But Yu's assignment was tough. Maintaining the $15 billion valuation Facebook obtained from Microsoft and Hong Kong investor Li Ka-Shing in the face of a declining advertising market will require a lot of ...
QOTD
Digital Daily —
... reflect that. Our advertising business has great depth and breadth. While no ad business can ever be 100% recession proof, the breadth of our advertiser base and the innovative products we offer bolster our position in the current cycle. We’ve also been closely managing the business so we can continue to hire great people and scale. While we’ve achieved certain milestones, we are deeply committed to even greater business success in the future.
– Facebook calls BS on rumors of its financial troubles.
Facebook's financials: Not looking so hot?
Webware.com —
... TechCrunch's Michael Arrington has a solid analysis of Facebook's current financial system, and his outlook isn't good. To boot, he says, Facebook Chief Financial Officer Gideon Yu has been spotted in Dubai, possibly meeting with investors to raise more cash for the company. ...
Facebook's financials: Not looking so hot?
The Social —
... TechCrunch's Michael Arrington has a solid analysis of Facebook's current financial system, and his outlook isn't good. To boot, he says, Facebook Chief Financial Officer Gideon Yu has been spotted in Dubai, possibly meeting with investors to raise more cash for the company. ...
What we know and what we don’t know about Facebook’s finances
VentureBeat —
... , as TechCrunch suggests? Not necessarily. Revenue will be in the hundreds of millions, and will greatly exceed the $150 million the company brought in last year, a source close the company tells me — pointing out that outsiders “don’t have a good appreciation for the diversity” of Facebook’s revenue streams. ...
Somebody SuperPoke Tesla
GMSV —
... today that he’s expecting a $20 million investment from existing investors to close in the next week. Musk also declared: “I’ve gone on record as saying that I am personally standing behind delivering the cars and the deposits for the company.” GMSV personally goes on record to say we send good karma to Facebook and hope it can keep its costs down even as everyone and their grandma all around the world (how do you say SuperPoke in French?) signs up so they can be cool and have lots of “friends.” And that Tesla eventually delivers all those cool electric Roadsters — Reuters ...
Facebook Headed for Financial Ruin?
Andy Beal's Marketing Pilgrim —
... TechCrunch today has no treats—and no joy, no, not even Almond Joy—for Facebook in reporting about its projected financial woes. For a company once ...
Facebook’s Impending Down Round: How Steep?
WatchMojo.com Business & Technology —
... However, it is very possible that Facebook’s valuation will have to sustain an even greater haircut… to how low? I don’t know, but it will be less than $10B, maybe as low as $5B, even. Of course, Facebook CFO Gideon Yu is in Dubai trying to raise a boatload of money from the country’s Sovereign Funds, who care less about returns and more about influence and prestige… but prestige can only go so far. This will be a down round, for sure. ...
Update On Facebook's Dubai Fundraising Trip
Silicon Alley Insider —
... First question, Battelle ask Zuckerberg about new financing rumors and trips to Dubai. Zuckerberg remains silent. In response to the question 'Do you need money?' Zuckerberg says 'no.' ...
Why Facebook should get Government bailout money
Technically Incorrect —
... There are whisperings, some surely motivated by the greenest of envies, that Facebook is not making an enormous amount of money. TechCrunch's Michael Arrington raised the alarm in a most cogent way very recently, suggesting that advertising revenues were not all they might be. ...
Facebook scores SEC exemption
Between the Lines —
... , not a revenue strategy. The company was injected with a $240 million investment by Microsoft last year and, despite reports in TechCrunch that the company ...
Facebook Tries to Buy Twitter. Are They Insane?
Fast Company - Technology —
... areas." The cuts should should save Adobe tens of millions of dollars, much of which can be recorded in the fourth quarter of 2008. The spokesperson declined to say whether Adobe will re-hire any of those positions should the economy show signs of recovery. Facebook's profligacy seems irrational by comparison. The company is predicted to earn revenues of only about $300 million this year, which is about the same as the overhead it takes to keep the office running, according to Michael Arrington . But that hasn't stopped the social network from reportedly trying to buy Twitter ...
Facebook Loses Face Value - ls Seppuku Imminent?
SitePoint —
... Michael Arrington actually did a superb job of “forcasting” Facebook’s impending monetization woes back in October, 2008. According to Arrington (and subsequent reading by this writer confirms his contentions), Facebook is probably bleeding money rather than making any. The expense of running the Facebook show, with 750 employees, ...
