
Yesterday, it was
announced that Microsoft had
bought a 1.6% stake in Facebook for $240 million, valuing the social utility site at roughly $15
billion. The deal makes geeky twenty-three-year-old Mark Zuckerberg, at least on paper, worth $5 billion. Talk about revenge of the nerds.
Silicon Alley Insider (which we're guessing is also made up of social misfits) says he deserves all this money because of his strategic intelligence. Here's how it's played out:
Facebook began as a Harvard-specific site through which students could rate each other's hotness in Zuckerberg's dorm room (possibly with some other people who have since
sued him).
After
reportedly almost getting kicked out of school for creating the site, and following the advice of hero Bill Gates, Zuckerberg dropped out to pursue Facebook full-time. Brave!
Zuckerberg raised huge amounts of venture capital and got Facebook to the point where it was being valued in the multi-billions, then turned down a measly $1 billion offer from Yahoo and then sparked a bidding war between Google and Microsoft. Super brave!
And now: ludicrous wealth is his!