The WSJ is reporting that US Social Networking web site Facebook is in serious talks to sell itself to Yahoo, for an amount that may be as high as $1 billion. According to the WSJ, this is a return to the acquisition talks which Facebook has held over the past year with Yahoo - as well as Microsoft and Viacom.
If this deal goes through (and strange it should follow this week’s news of Yahoo’s online advertising woes and subsequent stock price drop), then most likely it will top News Corp’s acquisition of MySpace last year for $580M. This will be more proof that social networking sites are the home to larger advertising opportunities. Just a note; Last month Viacom was rumored to be acquiring up and coming (over 25 million members) United Kingdom site Bebo.
Some interesting tid-bits arise out of the WSJ article which paint a very vivd picture of Mark Zuckerberg and some interesting quotes.
During one series of talks with Microsoft, Facebook executives told their Microsoft peers they couldn’t do an 8 a.m. conference call because the company’s 22-year-old founder and chief executive, Harvard dropout Mark Zuckerberg, wouldn’t be awake, says a person familiar with the talks. Microsoft executives were incredulous.