For Sale: 84 percent stake in new website "Facebook"

[Genx87]

Hah a check + singed contract? That would be hilarious if this guy takes control of the company.

 

[bfdd]

If the dude has a real case thats pretty amazing.

But why is this only coming out now? FaceBook was worth billions years ago.

Hard not to dismiss this as a scam

Actually if I remember right this has been going on a lot longer than just recently.

 

[Noirish]

facebook is worthless in my opinion.

 

[Deeko]

facebook is worthless in my opinion.

Welp, in financial terms, your opinion is very, very wrong. Sorry.

 

[FelixDeCat]

Eighteen year old Suckerberg didnt realize he was about to get the short end of the deal. :'(

I would offer $3000 for an 84 percent stake in FB.

 

[crownjules]

Welp, in financial terms, your opinion is very, very wrong. Sorry.

I don't know about that. The value of FB is tied to it's ability to monetize it's vast user base, something that has stymied them for a long time. Has that changed recently?

 

[MikeMike]

If this is true, Mark Fuckerberg is a piece of shit.

 

[Brainonska511]

If this is true, Mark Fuckerberg is a piece of shit.

I already don't like him because of the privacy issues with FB. The site was fine when I could just share what I want with who I chose. Then they started linking things and making it harder to control what was shared...

 

[Deeko]

I don't know about that. The value of FB is tied to it's ability to monetize it's vast user base, something that has stymied them for a long time. Has that changed recently?

Applications helped. The value of FB is tied to the amount an investor is willing to pay for it. Look at Youtube. It lost money hand over fist and yet was still purchased for a very large sum. Plus, Facebook is a massive source of data, which for the right company is worth a lot more than its direct impact on the books.

 

[Gothgar]

interesting

hopefully it ends up making it go down forever

 

[SunnyD]

I already don't like him because of the privacy issues with FB. The site was fine when I could just share what I want with who I chose. Then they started linking things and making it harder to control what was shared...

If you're worried about privacy on FB, you're doing it wrong.

 

[Train]

I don't know about that. The value of FB is tied to it's ability to monetize it's vast user base, something that has stymied them for a long time. Has that changed recently?

It has, thier advertising has gotten a lot more targeted. But despite the massive amounts of eyeballs they get, thier profit margins are very thin.

Though I wouldn't be surprised if Farmville is the only thing keeping facebook afloat these days.

 

[boomhower]

This is going to be interesting. Just think if this guy won and was handed 84% of facebook and the controlling rights. To bad they aren't public or we could witness on of the biggest stock tanks in history.

 

[Train]

This is going to be interesting. Just think if this guy won and was handed 84% of facebook and the controlling rights. To bad they aren't public or we could witness on of the biggest stock tanks in history.

Why assume it would tank?

 

[BeauJangles]

It has, thier advertising has gotten a lot more targeted. But despite the massive amounts of eyeballs they get, thier profit margins are very thin.

Though I wouldn't be surprised if Farmville is the only thing keeping facebook afloat these days.

Zynga has higher profits than Facebook does.

As for the suit, it doesn't matter how legitimate this guy's claim is. Nothing is going to come from it. Zuckerburg, despite being a scumbag, is a smart guy and has an army of high-powered lawyers on his side. This will either be tied up in litigation forever or they'll be some private settlement.

 

[FelixDeCat]

Zynga has higher profits than Facebook does.

As for the suit, it doesn't matter how legitimate this guy's claim is. Nothing is going to come from it. Zuckerburg, despite being a scumbag, is a smart guy and has an army of high-powered lawyers on his side. This will either be tied up in litigation forever or they'll be some private settlement.

This guys case looks rock solid to me. The 18 year old in question was acting like an 18 year old at the time, not knowing how successful the endeavor would be and sold a significant stake for what he thought was a fair price of $3000.00.

Now it is time to own up to what appears to be the deal of a lifetime for the 37 year old "investor". If I were on the jury I would vote that the contract was valid and he indeed owns 80+ percent of the company.

Case closed.

 

[FelixDeCat]

Why assume it would tank?

Think about it - the majority of equity in a company is divided into shares and traded for a value on a stock exchange. All of a sudden, a valid claim is made to nearly 85 percent of that equity. Therefore, you would see the shares fall to near zero as the presumed equity is traded to factor in this possibility.

When the government took 75 percent of the equity in AIG as part of the bailout in 2008, the stock fell from $40 per share to $3 per share, reflecting the massive shareholder loss to the value of their ownership in the company.

The is the same scenario so the stock price collapses by at least 80 percent or more.

 

[nonameo]

I'm sure zuck has been getting his lawyers to think of a way around this.

 

[CPA]

Unless there's a signed contract I dont see how a check proves anything.

It shows "consideration" which is a piece of a valid contract.

 

[freejumps]

I'm sure zuck has been getting his lawyers to think of a way around this.

i agree, he can afford the best lawyers in the world

 

[Ruptga]

I remember when FB was a fun site that college students used all the time to set up parties and meetings, share pictures, etc. Now it's almost nothing but apps, ads, and my mom trying to add me. I miss the old Facebook, and somewhere a small violin is playing a sad tune.

Let me know when some unknown lays a claim to 85% of Zynga, now that I would be happy about!

 

[boomhower]

Think about it - the majority of equity in a company is divided into shares and traded for a value on a stock exchange. All of a sudden, a valid claim is made to nearly 85 percent of that equity. Therefore, you would see the shares fall to near zero as the presumed equity is traded to factor in this possibility.

When the government took 75 percent of the equity in AIG as part of the bailout in 2008, the stock fell from $40 per share to $3 per share, reflecting the massive shareholder loss to the value of their ownership in the company.

The is the same scenario so the stock price collapses by at least 80 percent or more.

That and that the person who steered the company to what it is will be kicked to the curb and an unknown taking over. That kid gets hell but he has made this company worth billions.

 

[adlep]

Excellent development. I have been trying to tell people about it for years. They were looking at me like I am crazy. Karma is a bitch Fuckenberg...

 

[Lifted]

If this guy gets his 84%, how long before he sells to Google or Microsoft?

 

[ussfletcher]

Not long.

Edit: He should sell it to Zynga