China Bidding on Park Place, Boardwalk, Facebook
June 30th, 2011 - 12:03 pm
Some interesting goings-on in the world of high-tech finance:
China wants to buy a huge chunk of Facebook, a source at a fund that buys stock from former Facebook employees tells us.
This source learned of China’s interest when it approached him to see if he could help put together a stake large enough “to matter.”
Seperately, a second source tells us there is a rumor going around Facebook that Citibank is at this very moment trying to acquire as much as $1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds – China’s and another from the Middle East.
China and the Arabs want Facebook? My first instinct is, let ‘em have it.
Heh, good idea. I’m sure Sean Parker would just create something bigger, better, and uncut. (Although what the hell that would be I shudder to think.)
Anyone with a brain knows why they want an ownership stake. If they can control it at the base they don’t need to rely on the Great Firewall of China.
This is nothing more than a blatant attempt to force their version of social control onto a platform that is a primary means of communication for the younger set.
It’s probably backed by Google in an attempt to get people over to Google+ which is essentially a Facebook clone.
Two points:
1) If Zuckerberg didn’t hang on to 51% of voting stock, then he gets what he deserves.
2) It’s a freakin’ website. If the Chinese buy it and screw it up, somebody will create another one. Heck, maybe Zuckerberg will do it.
At the risk of pulling a Halperin, inshallah. I hate Facebook.
Yeah, never got the big deal. It’s Friendster 3.0. There’s nothing unique or special about it. It’s the flavor of the week and today’s Friday.
Anyone paying attention is more interested in Friendster 4.0