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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