Last year Microsoft publicly valued Facebook at $15 billion, however according to a document made available to the public last week it has put into speculation that the value of Facebook may only be $3.75 billion.
The document was made public during the recent court case between Facebook and rival company ConnectU. ConnectU was suing Facebook as they believe the founder and former employee, Mark Zuckerberg, stole the Facebook concept from ConnectU.
The valuation was approved by Facebook's board of directors and was based on the fair value of the stock options that they give to employees which was required under United States Tax Law. ConnectU had signed a settlement for a number of stock options rather than a dollar figure from Facebook and as a result tried to to get out of their signed agreement at the last minute due to the lower value put on the stock options however they were not successful.
Microsoft bought shares which had special rights, such as the agreement that Facebook could not partner with Google, which in turn made their value higher. This would mean that the value of Facebook could be between $3.75-$15 billion, however the true value would not be known until the company was publicly listed or a takeover was initiated.
Sunday, July 13, 2008
Thursday, July 3, 2008
Apple iPhone is coming to Telstra
The Apple iPhone is due to be released in Australia on July 11, with Telstra being the third carrier to announce that it will be selling the phone.
Telstra is also the first carrier to release pricing details for the iPhone on their plans. Telstra customers can expect to pay $279.00 upfront for the 8GB model on a $30.00 per month plan, with the 16GB version priced at $399.00 upfront.
David Moffat, the consumer group managing director for Telstra said "The new iPhone would run on Telstra's NexT G network". "With iPhone 3G on the country's largest and fastest 3G network, providing coverage to 99 percent of the population, more Australians will enjoy the iPhone 3G experience in even more places," he said. *
Vodafone and Optus have already announced that they also will be selling the Apple iPhone.
*Source - Sydney Morning Herald
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