Author Topic: Facebook - the IPO will change it / getting sued  (Read 22915 times)

tu_holmes

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Re: Facebook - the IPO will change it / getting sued
« Reply #150 on: August 17, 2012, 06:09:40 PM »
ya ya the ipo was overpriced, but you haters can forget about it "folding", a 8 year old company that generates cashflow in the billions is no fad.

that being said, i love jews but i would never buy something from them, specially from a short one who look like a smelly barf.

Hahaha... As Sun Microsystems how well 7 billion in cash and BILLIONS of revenue per year worked out for them.

Bam-bam

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Re: Facebook - the IPO will change it / getting sued
« Reply #151 on: August 17, 2012, 06:21:50 PM »
Hahaha... As Sun Microsystems how well 7 billion in cash and BILLIONS of revenue per year worked out for them.

"hahaha" they generated billions for how long? how is that a fad? they commited mistakes and they paid for it. So in your fantasy, hater world companies should be invencible?

tu_holmes

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Re: Facebook - the IPO will change it / getting sued
« Reply #152 on: August 17, 2012, 06:27:10 PM »
"hahaha" they generated billions for how long? how is that a fad? they commited mistakes and they paid for it. So in your fantasy, hater world companies should be invencible?

They generated billions for about 20 years... They were not permanent staples in the tech industry like IBM. As a matter of fact, I highly doubt that facebook will last as long as Sun did.

I'm hardly a "hater" when it comes to tech companies. I call it like I see it.

By your thought process, myspace should still be huge?


Bam-bam

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Re: Facebook - the IPO will change it / getting sued
« Reply #153 on: August 17, 2012, 06:31:10 PM »
They generated billions for about 20 years... They were not permanent staples in the tech industry like IBM. As a matter of fact, I highly doubt that facebook will last as long as Sun did.

I'm hardly a "hater" when it comes to tech companies. I call it like I see it.

By your thought process, myspace should still be huge?



I said facebook was no fad and you answered with a company that generated billions for 20 years, lol. Ok boy Sun Microsystem was indeed a fad.  ::)

tu_holmes

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Re: Facebook - the IPO will change it / getting sued
« Reply #154 on: August 17, 2012, 06:33:27 PM »
I said facebook was no fad and you answered with a company that generated billions for 20 years, lol. Ok boy Sun Microsystem was indeed a fad.  ::)

They are a fad... and I say 20, but that's not true.
Their real revenue occured between 1995 and 2005.

More like 10 years... And yes... That can be a "fad"... Myspace lasted 5 years... was that a "fad"?

How long has IBM, Xerox, Fujitsu, and Sony been around?

Those companies are NOT fads in the tech field. Do you see the difference?


Bam-bam

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Re: Facebook - the IPO will change it / getting sued
« Reply #155 on: August 17, 2012, 06:38:12 PM »
They are a fad... and I say 20, but that's not true.
Their real revenue occured between 1995 and 2005.

More like 10 years... And yes... That can be a "fad"... Myspace lasted 5 years... was that a "fad"?

How long has IBM, Xerox, Fujitsu, and Sony been around?

Those companies are NOT fads in the tech field. Do you see the difference?



so you either last 50+ years or you are a fad. Nice binary logic provided by the hater googles. Great. Im done here.

tu_holmes

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Re: Facebook - the IPO will change it / getting sued
« Reply #156 on: August 17, 2012, 06:43:06 PM »
so you either last 50+ years or you are a fad. Nice binary logic provided by the hater googles. Great. Im done here.

Hair metal lasted 10 years... Most would call that a fad.

So, yeah... I think so... GM, Ford, Chrysler... Not fads... Myspace, Facebook, LinkedIn, Twitter... Fads.

Bam-bam

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Re: Facebook - the IPO will change it / getting sued
« Reply #157 on: August 17, 2012, 07:41:41 PM »
Sales Ban Lifted on Early Backers; Zuckerberg Acknowledges 'Painful' Stock Drop

http://online.wsj.com/article/SB10000872396390444375104577593711737087098.html?mod=wsj_share_tweet

By SHAYNDI RAICE


Facebook Inc.'s FB -4.13% stock price plumbed a new low Thursday as early investors were freed to sell some of their stakes, leaving the once-prized stock down nearly 50% from its debut and forcing executives of the young Internet giant to pump up morale.

Facebook Chief Executive Mark Zuckerberg is no longer brushing off concern about his company's sinking stock price, acknowledging to employees for the first time that the selloff could hurt them.

Enlarge Image

Getty Images
On its first day of trading in May, Facebook shares closed at $38.23.

Mr. Zuckerberg has long exhorted employees not to pay attention to the stock price, instead pushing them to focus on developing the social network. But in a companywide meeting earlier this month, he conceded that it may be "painful" to watch as investors continue to retreat from Facebook's stock, according to people familiar with the meeting.

The meeting was part of a new effort over recent weeks to buck up morale.


Mr. Zuckerberg's turnabout may have steeled employees ahead of Thursday, when some early Facebook investors—but not employees—were able to cash out for the first time since the company's initial public offering in May.

Facebook shares hit a new low on Thursday, falling 6.3% to $19.87 as more than 271 million shares—or nearly 13% of those outstanding—became eligible for sale.

Rules that restricted investors from selling their stakes immediately after Facebook's IPO expired only for those who sold stock in the offering. The select group includes venture-capital firms such as Accel Partners and Greylock Partners and Wall Street firms like Goldman Sachs Group Inc. GS +0.11% and Tiger Global Management.

Employees who own Facebook shares are only able to watch at this point. Lockup expirations in October, November and December will allow Mr. Zuckerberg and other employees to sell more than 1.4 billion shares. The biggest lockup expiration, freeing more than one billion shares, is set for Nov. 14. The last lockup expires next May.

For many employees, however, selling shares later this year may not be a palatable option. Facebook's stock has so far fallen about 48% since the IPO, pushing its market capitalization down to about $42.6 billion. Including restricted stock units and stock options, Facebook's value is about $54 billion.

More

Morgan Stanley Distributes Facebook IPO Profits
The 'Lockup' Effect: Who's Next?
Facebook Shares Fall as Lockup Ends
 Stock Quote: FB
Overheard: More Lock-Up Hurdles Ahead
 Vote: Buy, Sell or Hold?
At Thursday's price, some of the mutual funds that invested in Facebook before its IPO are underwater, or showing paper losses. They include mutual-fund giant T. Rowe Price, TROW -0.45% which bought into Facebook in early 2011 for roughly $25 a share, according to regulatory filings.


Other pre-public investors are close to breaking even. Goldman Sachs, one of the IPO's underwriters, invested in December 2010, along with Russia's Digital Sky Technologies, MAIL.LN -0.16% at $20.85 a share, slightly higher than Thursday's price.

Earlier investments in Facebook remain highly profitable. Accel Partners invested $12.7 million in Facebook in 2005. It sold more than 57 million shares in Facebook's IPO, for proceeds of $2.2 billion, and after the IPO owned more than 143 million shares, valued at nearly $2.9 billion at Thursday's price.

The investors either declined to comment or couldn't be reached Thursday.

Facebook's History

View Interactive

More than 156.5 million shares changed hands Thursday, more than four times the recent daily average.

At Facebook's Menlo Park, Calif., headquarters Thursday, some employees said they aren't concerned about the current losses since they believe in the vision of the company. "I'll take a short-term loss now," said one employee who owns Facebook stock that is worth less than when he received it.

Another employee said that while he hasn't heard anyone talking about the stock price at headquarters Thursday, "obviously it's not great though when most employees bought in at the higher prices."

But in recent weeks, employees who weren't initially focused on the stock price had started expressing concern. Senior management realized it was time to do something about morale, believing that the falling stock could begin to distract workers, according to a person familiar with the matter.

Enlarge Image

Earlier this month, Mr. Zuckerberg began a companywide meeting by saying he doesn't want to open meetings talking about the stock price, since volatility is to be expected, but he said he wanted to acknowledge that the stock's slump is "painful" for some employees, according to people familiar with the meeting.

Mr. Zuckerberg went on to tell employees that the press doesn't know the company's future plans, and if they did, they would have the same faith in Facebook's ability to fulfill its lofty stock-market valuation. He said that investments the company has made over the last six to 12 months will soon bear fruit, the people said.

During a question-and-answer session after Mr. Zuckerberg's speech, one employee asked the CEO if employees are now allowed to talk about the stock price, according to the person familiar with the meeting. Yes, said Mr. Zuckerberg. People should feel comfortable talking about it, he said, but the price shouldn't be the focus.

From the Blogs

MarketBeat: At Below $20, Is Facebook a Buy?
Overheard: More Lock-Up Hurdles Facing Facebook 8/16/12
MarketBeat: Investors Using Facebook Options to Bet On More Weakness 8/16/12
Deal Journal: Facebook's Lockup Expiration: Who Could Sell? 8/14/2012
Mr. Zuckerberg's new show of sympathy toward shareholding employees was a marked change from his earlier disdain for stock-price talk.

On the day of the IPO, Mr. Zuckerberg posted a picture to his Facebook wall of a poster that said, "stay focused, keep shipping." The halls of Facebook offices across the country are now splattered with the saying and employees have repeated the mantra since.

Mr. Zuckerberg addressed his employees a few days later by saying jokingly, "So, you've heard we're firing David?" referring to Chief Financial Officer David Ebersman, as Mr. Ebersman sat a few feet away, according to people familiar with the meeting. He then said, "We're very proud of our deals team and we think they did a great job."

Journal Community


That tone began to change as Facebook's stock dropped toward $20 a share.

Facebook's vice president of partnerships, Dan Rose, earlier this month at the company meeting told employees he knows the company can't pretend that people won't worry about the stock price, according to these people.

Mr. Rose recounted a story about when he was at Amazon.com Inc. AMZN -0.16% and the stock price tanked, these people said.

He said he had young children and was concerned about his ability to provide for them, but he asked himself, "Do we have the right people in place and is our mission worthwhile?"

Mr. Rose said he asked himself the same questions about Facebook and believes the answer to both questions is yes.

—Scott Thurm, Matt Jarzemsky and Alexandra Scaggs contributed to this article.

The Abdominal Snoman

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Re: Facebook - the IPO will change it / getting sued
« Reply #158 on: August 18, 2012, 05:20:25 PM »
This thing will be around $10 by the new year

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Re: Facebook - the IPO will change it / getting sued
« Reply #159 on: August 18, 2012, 08:11:03 PM »
So, anybody here lost some money?

We could rank the losses, see who bought more of the hype  ;D

tu_holmes

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Re: Facebook - the IPO will change it / getting sued
« Reply #160 on: August 18, 2012, 09:21:14 PM »
So, anybody here lost some money?

We could rank the losses, see who bought more of the hype  ;D

I would ask Bay... He "may" have bit, but in general, he seems to be a shrewd guy who would not get taken in by this nonsense, so I would lean to "doubtful".

I think most people heard 40 dollars a share and said, "Bullshit".

I know I did... Not a single person I know in the tech industry circles that I run in bought it.

arce1988

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Re: Facebook - the IPO will change it / getting sued
« Reply #161 on: August 18, 2012, 09:22:42 PM »
  NO thanks.

Gregzs

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Re: Facebook - the IPO will change it / getting sued
« Reply #162 on: March 23, 2013, 11:54:58 AM »
http://www.nytimes.com/2013/03/24/fashion/winklevoss-brothers-move-on-from-facebook.html?nl=todaysheadlines&emc=edit_th_20130323&_r=0


Finding Their Next Facebook

By JESSE McKINLEY


As you sit across from Tyler and Cameron Winklevoss, it is easy to lose track of whom exactly you’re talking to. Tall, blue-eyed and each built as broad-shouldered as a fridge, the twins are identical right down to their entrees: a pair of lobster rolls, with potato chips. Each has an espresso; neither eats the biscotti it comes with. And while the restaurant around them is spinning with chatter on this February night, the twins are each laser focused on getting their message across.


“Our business isn’t to be famous: that’s not what we do, that’s not what we strive for,” said Tyler, who is slightly — if you look closely — broader-jowled and a hair more assertive. “But we’re not shy or have a phobia about it,” adding, “We’ll be friendly if people are friendly back.”


Cameron concurs. “Every time someone has come up to us, they’ve always been incredibly positive and almost overly effusive, in the sense that ‘I totally support you guys,’ almost to point that I’m like, ‘Hey, hey, chill out,’ ” he said. “Everyone else gets so much more emotional about it I think than we ever have.”


The “it” in question, of course, is the twisty tale of Facebook, a small Harvard-based start-up founded in 2004 that went on to become a multibillion-dollar business in the hands of a founder, Mark Zuckerberg.

As every viewer of the 2010 hit film “The Social Network” knows, that business triumph occurred without the Winklevoss twins, prompting their furious accusations that Mr. Zuckerberg had appropriated their idea for the site.


Their characters were indelibly portrayed as dumbfounded children of privilege: genetically and financially blessed, they strode into the office of the Harvard president, demanding Mr. Zuckerberg’s censure (although Mr. Zuckerberg, it must be said, came off as even more unappealing in the film). The final image of the brothers was one in which they narrowly lost not only a big rowing race in Britain, but control of the company, leaving them angry (“Let’s gut the frigging nerd,” Cameron’s character says) but, ultimately, just a side note in the Facebook story.


For most people, their story ended where that scene ended, and the Winklevii, as they were memorably referred to, were all but forgotten. In the years that followed, the two went on to compete in the 2008 Olympic Games, coming in sixth in Beijing, and engaged in a protracted legal battle with Mr. Zuckerberg and others. After being awarded at least $65 million in 2008, they went back to court to ask for more, but eventually abandoned their attempts.


“We gave it our best shot,” said Tyler, now 31. “And when we felt we had come to the end of the road, it was over and on to the next thing.” But if revenge is a dish — like a lobster roll — best served cold, then the Winklevii are feasting. The twins are more active than ever: financing start-ups, hosting political fund-raisers, and even poking fun at their own image in a television commercial.


Last year, their company, Winklevoss Capital, began working as what they call “angel accelerators” for the shopping Web site Hukkster and a financial-data-and-dish company called SumZero. Divya Narendra, the founder of SumZero, met the twins at Harvard, and was eventually a co-plaintiff against Facebook.


Mr. Narendra, who was also depicted in the movie — “I was played by a guy who looked nothing like me” — said that the twins had adapted to their celebrity in typically low-key fashion. “I think part of them enjoys the fame, and I’m sure part of them is probably annoyed by it at times,” he said. “It’s hard for me to put myself in their shoes, because I don’t attract that kind of attention. Nobody would recognize me on the street. But people do stop them.”


Indeed, they’ve recently been sighted clubbing in SoHo, rubbing elbows at Fashion Week and being trailed onto the subway by the British paparazzi (“After failing to find taxi to pick them up,” The Daily Mail breathlessly reported). In December, the twins, who live in Los Angeles and New York, hosted a high-profile fund-raiser at their sleek 8,000-square-foot pad in the Hollywood Hills for the Los Angeles Democratic mayoral candidate Eric Garcetti. In New York, they have backed Daniel L. Squadron, a New York State Senator who represents a chunk of Brooklyn and Lower Manhattan, in a potential bid for public advocate.


They touted Hukkster on the “Today” show last fall, and shortly after dropping their legal challenge in June 2011, they appeared in an advertisement — which they say they helped write — for Wonderful Pistachios, a spot that took a none-too-subtle swipe at Mr. Zuckerberg, with one brother mentioning that deshelled nuts were “a good idea,” and the other suggesting that someone might steal it.


“Who’d do that?” the Winklevii quipped, before an M.C. announced, “The Winklevoss twins do it cautiously.”


All of which seems to suggest that the twins have come to terms with the fact that while they didn’t ask for notoriety, they are now best known as the guys who lost out on a Sultan of Dubai-style payday. And being known, they say, is not necessarily a bad thing when trying to build start-ups.


“I don’t feel like we’re jumping in front of cameras just to be jumping in front of cameras,” Tyler said of the “Today” show appearance. “We were talking about what could be done for Hukkster.”

Cameron interjects. “I think our litmus test is, ‘Is there a purpose to it?’ ” he said. “ ‘Are we helping build Hukkster? Are we helping to build SumZero?’ ”


The one topic they do seem sensitive about is their upbringing in Greenwich, Conn., the sons of wealthy self-made parents. “Dad was a pure entrepreneur,” Tyler said. “The dinner conversations weren’t like, ‘Did the Yankees win today?’ Cameron and I would be reading business magazines and talking about guys like Bill Gates.”


But they are also quick to point out that the Winklevoss family was not always so well off. Their parents, married 45 years, didn’t go to Harvard; they went to Grove City College, a Christian liberal arts school in western Pennsylvania. Their grandfathers were a policeman and a garage owner. Their great-grandfather was a coal miner. And so on.


“We certainly grew up and had opportunities,” Cameron said. “But it’s not like our parents are aristocratic blue bloods.”


Tyler agrees that “we were born into privilege,” but adds: “We may have been born on third base, but we worked like we were starting from home plate. You know: batter up.”


Christopher Librandi, a lawyer who attended high school with the twins at the private Brunswick School in Greenwich, echoes that “they’ve got this very distinct public image, as preppy, khaki-wearing golden boys, but they don’t really fit that image.”

“They’re just driven, focused guys,” he said, adding that “they absolutely hated khakis.”


Talk to friends and colleagues of the Winklevii, and the recurring theme is that for all their seeming advantages, the brothers, who are almost painfully polite, seem to fall — by choice or by nature — right in the dull center.

The twins still tend to travel — and talk — in tandem, though little differences between them do pop out: Cameron is a lefty, Tyler right-handed. Cameron wears Adidas; Tyler wears suede sneakers. Tyler is a film buff — he’d like to produce someday — whereas Cameron seems more interested in music and books.


“When we look in the mirror, we don’t see the same person,” Cameron said.


They say they are both in relationships. Their dating status is something often asked about in short order by female friends of the Hukkster founders Katie Finnegan and Erica Bell, who met the brothers last fall for a marathon dinner meeting at the same restaurant — Lure Fishbar in SoHo — they invited this reporter. “I was like, ‘I know I’ll recognize them when they walk in the door,’ ” Ms. Bell said. “Because you don’t often see 6-4 twins walking around.” (For the record, the twins are actually 6 feet 5 inches.)


In January, the twins opened their own family office, an airy 5,000-square-foot loft in the Flatiron district, the ancestral home turf of Silicon Alley. The space — with hardwood floors, Eames-style chairs and lots of frosted glass — is something of a social experiment, mixing feminine charm (from the Hukkster crew, which sits at the back surrounded by bags of swag) and man-nerd chic (from the SumZero guys, who occupy the desks decorated with JavaScript manuals and remote-controlled toys). There is a futuristic hangout space outfitted with potato-chip bar stools and a 75-inch television (almost as wide as the twins are tall), and a small room toward the rear that might be outfitted with nap bunks for “wired in” programmers with no time to go home.


It’s a slightly old-school idea — throwing everyone in the same room — which Tyler described in idealistic terms.


“We recognize in New York there’s difficulty in bridging that gap between working in Starbucks or your living room and actually have the money to get their own space,” he said, adding that “we want to be company builders. We don’t want to just be cutting checks and saying, ‘See ya.’ ”


Up front, there’s a white cubicle set aside for a planned D.J. booth. All of which, the twins say, is part of an ethos to make their business a pleasure. “We want this to be a place people want to come to work,” Tyler said.


Despite rejecting some trappings of Silicon Valley — their office has no Ping-Pong table, which they called a cliché — the Winklevii are not immune to the type of hyperbole that often heats the air of dot-com parties and pitches. Speaking of SumZero, Tyler says, “It completely obliterates the way things have been done on Wall Street.”


Which could seem a little cocky, of course, unless you believe — as the Winklevii obviously still do — that they were critical in coming up with the idea for Facebook. They don’t offer up many opinions about Mr. Zuckerberg, but they do have a few about how their battle has been portrayed.


“It’s always been this David and Goliath, blue-blooded jocks versus this hacker kid, when really it’s a fight or dispute between privileged parties,” Cameron said. “The similarities between us and Zuckerberg are actually greater than the dissimilarities.”

“The irony,” he said, “is so thick.”