quote of day
June 22, 2006: 3:29 PM EDT CNNMoney.com
Mark Zuckerberg
Founder, Facebook
In entrepreneurship, timing is everything. So we'll give Zuckerberg credit for launching his online social directory for college students just as the social-networking craze was getting underway. He also built it right, quickly making Facebook one of the most popular social-networking sites on the Net. But there's also something to be said for knowing when to take the money and run. Last spring, Facebook reportedly turned down a $750 million buyout offer, holding out instead for as much as $2 billion. Bad move. After selling itself to Rupert Murdoch's Fox for $580 million last year, MySpace is now the Web's second most popular website. Facebook is growing too - but given that MySpace has quickly grown into the industry's 80-million-user gorilla, it's hard to imagine who would pay billions for an also-ran.
Mark Zuckerberg
Founder, Facebook
In entrepreneurship, timing is everything. So we'll give Zuckerberg credit for launching his online social directory for college students just as the social-networking craze was getting underway. He also built it right, quickly making Facebook one of the most popular social-networking sites on the Net. But there's also something to be said for knowing when to take the money and run. Last spring, Facebook reportedly turned down a $750 million buyout offer, holding out instead for as much as $2 billion. Bad move. After selling itself to Rupert Murdoch's Fox for $580 million last year, MySpace is now the Web's second most popular website. Facebook is growing too - but given that MySpace has quickly grown into the industry's 80-million-user gorilla, it's hard to imagine who would pay billions for an also-ran.