Facebook Rejected Yahoo! Bids

Facebook Rejected Yahoo! Bids

Leaked documents reveal that Yahoo! has had offers turned down for Facebook, the social networking website.

The documents show that Yahoo1 made an early offer of $37.5 million for 5% of the company in the first quarter of 2006 which was rejected by Facebook.

At about the halfway point of the year, Yahoo proposed a $1 billion flat out acquisition price based on a model they created where they projected $608 million in Facebook revenue by 2009, growing to $969 million in 2010.

Yahoo! projects that Facebook would generate nearly $1 billion in annual profit by 2015.

Apparently, Facebook flatly rejected the $1 billion offer, looking for a larger amount.

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