So. Facebook is ostensibly a "public" company except it's still more than 50% controlled by one man and now it has 18 billion dollars of cash to buy up potential competitors before they get big. Zuck has to be feeling pretty damned pleased with himself right about now.
The $18bn is not cash raised for Facebook, it is mostly (can't find if entirely) existing investors selling out. It can use its shares to buy companies though, plus existing cash.
Not angry, more bemused. This has been one of the most unusual IPOs in history, and all the usual suspects (news media, tech blogs, etc.) can find to talk about are the most mundane and least substantive details.
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So. Facebook is ostensibly a "public" company except it's still more than 50% controlled by one man and now it has 18 billion dollars of cash to buy up potential competitors before they get big. Zuck has to be feeling pretty damned pleased with himself right about now.
The $18bn is not cash raised for Facebook, it is mostly (can't find if entirely) existing investors selling out. It can use its shares to buy companies though, plus existing cash.
A hiding startup is a potential competitor?
You seem angry.
Not angry, more bemused. This has been one of the most unusual IPOs in history, and all the usual suspects (news media, tech blogs, etc.) can find to talk about are the most mundane and least substantive details.