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Posts Tagged “

Mark Zuckerberg

facebook

Transcripts confirm: ConnectU founders better rowers than accountants

Released court transcripts from the last skirmish in the ConnectU-Facebook legal battle — in which Facebook CEO Mark Zuckerberg was charged with nicking the code for his site from a rival social network — reveal why ConnectU founders Divya Narendra, Cameron Winklevoss and Tyler WInklevoss returned to the fight this summer after settling with Facebook in February. It seems they thought their original lawyers didn't make as much from the deal as the ConnectU founders thought they would. In the February settlement, ConnectU sold itself for Facebook shares which the founders figured would have a value similar to those bought by Microsoft, which paid $240 million for 1.6 percent of Facebook, valuing the company at a notional $15 billion. The transcripts show that while Microsoft bought preferred stock in the company, ConnectU's founders were awarded common shares. That kind isn't worth nearly as much. In fact, given the problems Facebook shareholders have had selling their private shares, the settlement might not be enough to pay ConnectU's legal bills. The founders' first team of lawyers have asked the Judge not to award ConnectU its settlement funds until its legal bills are paid first.

lawsuits

CNET legal objection might reveal Mark Zuckerberg's private IM transcripts

The legal case opened by ConnectU founders Cameron Winklevoss, Tyler Winklevoss and Divya Narendra against Facebook CEO Mark Zuckerberg is closed, but the courtroom drama continues. CNET has filed an objection to San Jose District Court Judge James Ware's decision to close the courtroom and put all the evidence under seal. What's in those documents that might be so interesting? Facebook's internal valuations, for starters. But most intriguing are the purported instant message conversations that the plaintiffs were led to believe provided proof that Zuckerberg is a little thief. (Photo by AP)

facebook

Facebook shareholders trying (and failing) to offload stock at a $5 billion valuation

Facebook founder Mark Zuckerberg hasn't moved the company quickly enough toward an IPO for some shareholders. According to reports, some have begun trying to sell their shares at a steep discount to the $15 billion valuation afforded by Microsoft's $240 million purchase of a 1.6 percent stake last fall. One such shareholder, supposedly a Facebook employee, tried to sell 0.25 percent of the company at a $5 billion valuation in April and could not. More recently, a shareholder represented by California money manager Bill Dagley — possibly the same one — has been trying to move shares at a price that values the company around $3 billion to $4 billion. Back to your caves, Facebook bears. That shares are on the block at a price much lower than Microsoft paid does not suggest Facebook's value is spiraling downward. More »

facebook

Marc Andreessen to officially join Facebook board this week

Facebook will announce this week that it's brought Silicon Valley wunderkind turned Web 2.0 grumpy grandpa Marc Andreessen onto its board of directors. Andresseen will fill one of the two open seats on Facebook's five-person board. Founder Mark Zuckerberg and investors Peter Thiel and Jim Breyer make up the rest. More »

connectu

Facebook convinces judge it isn't worth $15 billion

When Facbook and the ConnectU founders who say Facebook founder Mark Zuckerberg stole their code settled in February, ConnectU founders Cameron Winklevoss, Tyler Winklevoss and Divya Narendra figured they were getting stock in a company worth $15 billion. Not so, according to Facebook laywers and the federal judge who ruled in their favor. From the Judge's ruling:
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All your features are belong to Mark Zuckerberg Facebook CEO Mark Zuckerberg may not have strictly stolen the code he wrote for others but kept for himself to start Facebook. But the company is certainly garnering a reputation for appropriation. FriendFeed has offered comments on items from other services piped into a single update timeline. Now you can do the same with Facebook updates. [VentureBeat]

superficial

What would Mark Zuckerberg and Priscilla Chan's love child look like?

One in a while a Web application comes along that's so damn useful, even we'd invest in it. Facebook? Meh. MakeMeBabies, the site that lets you create ruddy-cheeked mashups from any two photos? Its diapers will be filled with nothing but spun gold. Here's what the site came up with from photos of Facebook CEO Mark Zuckerberg and girlfriend Priscilla Chan. After the jump, we give a few other notable couples the same treatment. Please do add your own in the comments with our image-upload feature — best and worst fake babies will win an as-yet-undetermined prize of nominal value! More »

facebook

Facebook plans to move out of downtown Palo Alto

Facebook employees losing the $600 monthly rent subsidy aren't the only ones moving out of Palo Alto. With plans to grow by more than 1,000 employees this year, Facebook is planning to move from its cluster of rented offices sources tell BoomTown. Relocation options include the old Hewlett-Packard buildings west of Palo Alto as well as office parks in Mountain View and Sunnyvale. At least one young man at the company isn't happy about it, though. More »

social networks

Tila Tequila demands cash or date with Mark Zuckerberg to ditch MySpace for Facebook

On the "yellow carpet" at the SpikeTV Guy's Choice Awards, Mahalo Daily host Lon Harris asked Tila Tequila what it would take for Facebook to woo the über-popular MySpace user. "A big fat check," she jokes at first. But after a little prodding, she admits that an appeal to the heart might also work, "if the person or whoever runs it is hot and takes me out on a date." Harris proceeds to explain that 24-year old co-founder Mark Zuckerberg is "pretty hot." He must like guys with long necks and big ears.

mark zuckerberg

Facebook delays site redesign, again

Originally scheduled for release in April, pushed back to June after developers freaked out, Facebook's site redesign is now delayed until July. "Launching in July gives us more time to make sure we release the best possible profile design to our users and developers," Facebook's Pete Bratach wrote on the company blog. While perhaps clumsily handled, the delay is probably a good idea. Facebook founder and CEO Mark Zuckerberg will give a keynote at Facebook's second annual developer conference on July 23. Drumming up anticipation for a big reveal won't turn Zuckerberg into Steve Jobs overnight, but it might help keep the focus on what he says, not how awkwardly he says it.

exits

Matt Cohler, another member of Mark Zuckerberg's braintrust, leaves Facebook

Facebook's vice president of product management, is reportedly leaving the company to join Benchmark Capital. Two possible interpretations leap to mind: Sheryl Sandberg, the Facebook COO recently hired away from Google, is pushing out, one by one, the executives closest to Zuckerberg, leaving him increasingly isolated. Or Zuckerberg, loathe to give up control over Facebook as a product, is doing it himself. Update: Cohler is joining the VC firm as a general partner, not an entrepreneur-in-residence, as we'd first reported — a considerably more prestigious role, where he'll be investing money in startups himself, rather than waiting to get funded. He'll stay tied to Facebook a "special advisor" to Zuckerberg — which suggests that any falling-out was not with the Facebook CEO. Cohler, for his part, tells Swisher he got along well with Sandberg, and helped recruit her to the firm.

Social Networks

Facebook bows to crazy Christians and other home-schooled, parochial innocents

Who's been left out of the Facebook fad? Not the gentry at Mark Zuckerberg's alma mater Phillips Exeter Academy, but the sorely un-trad being withheld from frighteningly diverse public education programs by home-schooling parents. They're white, anglo-saxon and protestant, too, why the exclusion from the frat-munity? Not to worry — Facebook's Christina Holsberry, a Leland Stanford Junior University graduate has decreed that you kids taught the narrowest of ideological positions have a place on Facebook. So rejoice, ye lambs, who will save us all yet from the sin that is evolutionary theory — may you generate many holy advertising impressions!

facebook

Rolling Stone's Mark Zuckerberg bio -- the 100-word version

In Rolling Stone magazine's continuing efforts to be hip and with it, Claire Hoffman was granted dozens of column inches to detail the rise of Facebook, especially including the allegations that co-founder Mark Zuckerberg essentially stole the idea and reneged on promises of coding help to other Harvard students when he realized that he might have a business success on his hands. The list of aggrieved parties is long, starting with Harvard which punished Zuckerberg for invading other student's privacy by creating Facemash to the ConnectU founders and even Facebook's original co-founder, both of whom have sued Zuckerberg for various improprieties. But what does it all boil down to? More »

idol worship

Mark Zuckerberg preps Steve Jobs impersonation for developers' conference

Facebook will hold its second annual F8 developers' conference on Wednesday, July 23 in San Francisco. That means we'll watch Facebook founder Mark Zuckerberg take another shot at his reported goal of impersonating Steve Jobs's keynote addresses. Funny thing is, Jobs isn't actually a very stylish public speaker. Check out the end of the 60-second versions of his last two keynotes below. His speeches are stuffed with frilly adjectives. Jobs only does so well because his keynotes are full of highly anticipated announcements. Zuckerberg doesn't — can't — do grand reveals. More »

geek love

Dating Mark Zuckerberg: the rules

A year ago this summer, Priscilla Chan graduated from Harvard and moved to Palo Alto to live near her boyfriend, Facebook founder Mark Zuckerberg. But before she did, Chan and Zuckerberg, pictured, held a series of "negotiations" over how often she would get to see him, according to Sarah Lacy's book Once You're Lucky, Twice You're Good. The final contract, according to Lacy: More »

quotable

ConnectU lawyer on the IM transcripts that will totally milk more millions from Facebook

Mark Hornick, the lawyer representing ConnectU's Cameron and Tyler Winklevoss, on the "smoking gun" chat transcripts that data forensics expert Jeff Parmet may or may not have discovered on hard drives subpoenaed from Facebook implicating Mark Zuckerberg in grand theft source code: "We don't have them. The courts have them, Facebook has them, but ConnectU doesn't have them." [Silicon Alley Insider]

Chris Matyszczyk

CNET hires (m)adman to blog about Obama's victory

They'll let just about anyone blog these days, won't they? News.com's latest addition: recovering adman Chris Matyszczyk, who writes under the rubric "Technically Incorrect," and reminds me a bit of Dan Lyons's alter ego, Fake Steve Jobs — except that, having met Matyszczyk briefly, I think this is the real thing, not a put-on person. Matyszczyk's fantasy phone call between Hillary Clinton and Mark Zuckerberg is hilarious: Clinton blames Zuckerberg for her loss to Obama, and then hits the paper billionaire up for a donation. What's really funny: Matyszczyk is outsidery enough not to mention the fact that Zuckerberg's cofounder, Chris Hughes, left the social network early on to run Obama's Web campaign. Zuckerberg's posse really is at fault, and not in a metaphorical Facebook-generation way.

lawsuits

Citing new evidence, ConnectU founders want out of Facebook settlement

The ConnectU founders have long argued Facebook founder Mark Zuckerberg used code commissioned by ConnectU, a rival college-based social network, to create Facebook at Harvard. Now, after agreeing to a settlement with Facebook in February, the ConnectU founders want out of the deal. They say instant messaging files found on Facebook's computers offer new "smoking-gun" evidence to make their case. More »