The kid who turned down $1 billion!

It\'s lucky to be alive.
Mark Zuckerberg, 22year-
Old founder and CEO of social networking sites
Facebook, the social networking site, said that when he cameto-
Face with a gun barrel.
He drove from Palo Alto to Berkeley in the spring of 2005.
Just a few hours ago, he signed a document for $12.
7 million of the venture capital fund his fledgling business.
This is an upcoming-of-
At the time of age, he is on his way to East Bay to celebrate with his friends.
But things get weird when he stops to refuel.
When Zuckerberg got out of the car and filled the tank, a man appeared from the shadows, waving a gun and growling.
\"He didn\'t say what he wanted,\" Zuckerberg said . \".
\"I thought he was taking drugs.
Zuckerberg lowered his head and said nothing. He returned to the car and drove away without damage.
He just barely talked about a Episode today.
A former employee leaked the secret.
But that\'s the way he goes. -
An unexpected adventure, sometimes harrowing, turned out to be better than anyone had predicted.
So far, Zuckerberg\'s life has been like a movie script.
A child in a supermarket invented a technical phenomenon when attending an Ivy League school. -
Harvard, for example--
And launched a wave of praise.
He was surrounded by a circle in his dormitory to meet him;
As we know, he dropped out of college, grew up with his children and changed the world.
Just three years later, the Web site as a college student began to become a hot topic.
Provide tools for 19 million registered users including government agencies and employees of Fortune 500 companies.
More than half of users visit each day.
When a new feature that is unclear is causing protests from users ---some 700,000--
New and old media have reported this rebound.
But Facebook is stronger than ever.
According to comScore Media Metrix, which tracks network activity, it is now the sixth largest --
Where trafficking in the United States-
1% of the Internet time is spent on Facebook.
ComScore also rated the number. one photo-
Share the website on the Internet and upload 6 million pictures every day.
It began competing with Google and other tech giants to become the destination for top young engineering talent in Silicon Valley.
Debra ahoe Williamson, senior analyst at EMarketer, said it is expected to generate $100 million in revenue this year ---
It\'s money.
However, there is a controversy about whether Mark Zuckerberg made the right decision about the giant he created.
At the end of last year, a blog called TechCrunch posted documents that were said to be part of Yahoo\'s internal valuation of Facebook.
The documents predict Facebook will generate $0. 969 billion in revenue by 2010, with 48 million users.
Others reported that Yahoo offered $1 billion to buy Facebook. -
Zuckerberg and his partner refused.
It has been rumored that Viacom has offered $0. 75 billion.
Neither Yahoo nor Viacom nor Facebook will comment on the deal (they still won\'t ).
But since then, Silicon Valley has been buzzing.
\"It\'s all fun,\" said Zuckerberg, who was sitting in the conference room at Facebook\'s Palo Alto headquarters, who was expressionless.
He looks very quirky in a zipper brown jersey, loose kha pants and Adidas sandals.
He walked into the room and ate breakfast cereal from the paper bowl with a plastic spoon.
He still lives in a rented apartment with a mattress on the floor and only two chairs and a furnished table.
(On one occasion, he admitted: \"I made a dinner for my girlfriend . \".
\"It doesn\'t work very well.
He walks or goes to the office by bike every day.
University of Zuckerberg
Kid style reinforces the doubts of those who see the decision to keep Facebook independent as a misjudgment.
In less than two years, the two dominate Web 2.
MySpace accepted $0. 58 billion to join the News Group.
YouTube cost $1.
5 billion from Google.
There is no doubt that any smart entrepreneur will take this opportunity to take advantage of these deals.
On Facebook, the ghost of Friendster is approaching, and Friendster is the first important social networking site. Network site.
It reportedly rejected the opportunity to sell to Google in 2002 for $30 million, and if paid in stock, today\'s value will be about $1 billion.
Now Friendster is struggling on the Internet. o-
The sphere quickly surpassed by the next generation of websites.
The same could happen with Facebook. New social-
Web sites appear every day.
Cisco acquired the PlayStation SS, which sells social networking software platforms to corporate customers.
Microsoft is a beta version
Test a website called Wallop.
Even Reuters plans to launch online Facebook for fund managers and traders.
Zuckerberg was greedy too. -
If so, will he come back and bother him? Zuckerberg\'s answer to his game plan is that he is playing a different game.
\"I\'m here to build something for a long time,\" he said . \".
\"Everything else is distracting.
\"He and his fellow citizens are at the helm of the company ---
Dustin Moskowitz, 22, is his roommate at Harvard, and 23-year-old CTO Adam D\'Angelo met at prep school ---
True believers.
Their belief is that the openness, collaboration and sharing of information reflected in social networks can make the world a better place.
You may think they are naive, but they are too smart to succeed in a way that most people have never had before.
From a chaotic operation run out of sublet crash pads in Palo Alto, they now have cool gray offices with two buildings (which will soon become three) and employ 200
Welfare package--
Not to mention three meals a day, free laundry and dry cleaning.
They continue to improve a website that is a technical miracle in all aspects.
Now, it\'s $12 for people facing Zuckerberg.
7 million as early as the spring of 2005, the funds and contacts of other venture capitalists helped Facebook grow, describing themselves as content.
After all, since the news of the Yahoo deal surfaced, the user base has continued to flourish, saying that Facebook\'s value has increased.
But when people with the money start to encourage their investments to achieve gains, sales ---
Or more likely an IPO. -
Far behind the idea that \"most people hear the word\" hacker.
Zuckerberg admitted he was a hacker. -
But only if he is sure that you understand that the word means something different to him.
For him, the hacker culture is to use the joint efforts and knowledge to create something bigger, better and faster than the individual does alone.
\"People are very focused on being open, sharing information, and this is the ideal and practical strategy to get things done,\" he explains . \".
He even launched what he called the hackathon on Facebook \"---
Others may call it an engineer brainstorming session. But it was old-
Broken old fashionedand-
Hack into Facebook-
The culprit is Zuckerberg.
Zuckerberg grew up in the well. to-
Is Dobbs Ferry in the suburbs of New York the second of four children and the only son of a dentist (who doesn\'t have tooth decay) and a psychiatrist?
Health joke here ).
He started fiddling with computers very early and taught himself how to program.
As a high school student at Phillips Exeter College, he built a plug-in with De Angelo
In order to learn the MP3 player Winamp of your music listening habits, then create a playlist to suit your taste.
They released it in the form of a free download, and big companies, including AOL and Microsoft, called.
\"Basically, you can come and work for us, oh, and we will accept this thing you do,\" Zuckerberg recalls . \".
The two decided to go to college. Angelo went to California Institute of Technology and Zuckerberg went to Harvard.
This is where the hacking happened.
Harvard does not provide a catalogue of students with photos and basic information, which most schools refer to as a Facebook book.
Zuckerberg wanted to build an online version for Harvard, but said the school \"has been saying that there are reasons why they can\'t collect this information . \".
\"I just want to prove that this can be done.
\"So one night in sophomore year, he hacked into the Harvard student record.
He then threw out a basic site called Facemash, which randomly paired photos of undergraduates and invited visitors to determine which site was \"hotter\" (\"hotter\" with the site\"
Four hours later, 450 visitors and 22,000 photos of the Internet connection at Harvard University, Razak Berg.
After wearing clothes
Zuckerberg left the government and caused a stir on campus. he politely apologized to his classmates.
But he still believes that he did the right thing: \"I think this information should be available.
(Harvard declined to comment on the matter.
) In the end, Zuckerberg did a finishing job around the government.
He set up a Facebook template for students to fill in the information themselves.
The new project consumes him so much time that by the end of the first semester there are still two days left for his art --
In the history final, he was in serious trouble: he needed to be able to discuss 500 images from the Augustine period.
\"It\'s not the kind of thing you can go in and figure out how to do, like calculus or math,\" he said . \" He had no irony.
\"In fact, you have to learn these things in advance.
So he found a Tom Sawyer: he built a website with a picture on each page and a place to comment.
He then emailed the members of the class to invite them to share their notes, just like a team of Internet steroid researchers.
\"In two hours, all the images were filled with notes,\" he said . \".
\"I did a good job in that class. We all did. \"Thefacebook.
Originally known as com, it was launched in February 4, 2004.
In two weeks, half of Harvard students have signed up.
Not long, two days at most. thirds.
Zuckerberg\'s roommates, motogitz, and Chris Hughes, joined by using a shared hosting service of $85 a month to help add features and run the site.
Students from other universities began to approach them and asked for their own online Facebook.
So the trio opened up new areas on the site for places like Stanford and Yale.
Including 30 schools, banners-
Types of advertising for student activities and colleges
Targeted businesses have brought thousands of dollars.
\"We just want to go to California in the summer.
\"This is Zuckerberg\'s decision to go to Palo Alto with Moskowitz and Hughes at the end of his sophomore year.
They sublet a house not far from Stanford campus.
Then wealth stepped in.
One night, Zuckerberg ran into Sean Parker, co-founder of the document, on the street.
Napster sharing program
The two met briefly in the east.
Parker had to move to Palo Alto, but there was no apartment yet.
\"Basically we just let him crash with us,\" Zuckerberg said . \".
Parker moved in and brought in an unstoppable spirit, a lot of ideas, a killer Rolodex--and a car.
Parker is also a walking story about what may happen to young entrepreneurs.
After Napster derailed due to legal challenges in the music and film industries, Parker helped roll out the website Plaxo, which updates contacts.
But he told everyone that he was launched by Michael Moritz, a risk heavyweight at Sequoia Capital, an early supporter of Yahoo, Google and YouTube.
Sequoia declined to comment.
Zuckerberg accepted it all.
A few weeks later, Parker introduced Zuckerberg to Peter Thiel, his first major investor, president of hedge fund Ethereum Capital and co-founder of PayPal, founder fund management partner.
After Zuckerberg was 15
Thiel is obviously interested on Facebook.
Peter is a fast man.
\"It\'s a little scary to speak,\" said Matt Kohler, a colleague of Thiel in the room at the time.
\"But Mark stayed calm and got the information he needed.
\"By the end of the conversation, he had a promise of $500,000 in seed money and a trap. ©Become the only social network in Silicon Valley.
Zuckerberg and his friends caught the trouble of starting a business.
As summer approaches, Zuckerberg recalls a speech he heard from a prominent person at Harvard University --known dropout.
When you take the computer
\"In science, Bill Gates came and talked,\" he recalls.
\"Gates encourages students to leave and do something because Harvard allows students to take time off as they like.
\"If Microsoft fails, I will go back to Harvard,\" he joked . \".
Zuckerberg and Moskowitz supported them with Thiel\'s funds and decided to follow Gates\'s advice.
Zuckerberg and the growing team of engineers manage Facebook sites from a range of subsidiaries around Palo Alto, coding together on the ever-changing furniture.
\"We never had money,\" he recalled with a smile . \".
\"We bought a car on Craigslist.
You don\'t need a key.
You just need to turn the ignition on.
In November 2004, Facebook passed 1 million--users mark.
Six months later, with the help of Thiel, Zuckerberg signed the documents for $12.
Accel Partners offers 7 million financing.
He hired a group of new engineers (including Steve Chen, who will leave YouTube in a few months ).
He moved the company to a real office on University Avenue in Palo Alto.
As of the fall of 2005, 5 million active users had visited the site at least once a month.
Ask the people who work there what Facebook is, and you get almost the same answer: a social tool that allows people to share information quickly and effectively with people in their world.
Unlike MySpace, where anyone can browse the site or play a different role, Facebook is based on real
A world network of people who share the same email domain and want to know more about each other. What you share--
Holiday photos, contact details, favorite movies, current whereabouts, upcoming events, and more-
It\'s all up to you.
This is very meaningful for college students who are eager to meet people around them at school. But Web 2.
Observers want to know how Facebook has grown into something useful to the rest of us.
If there is no other reason, it needs to do so other than the initial audience is growing and getting the job.
In September of 2005, Facebook was open to high school students, many of whom already had older siblings on the site.
Over the next month, a photo feature was added to the site, and technical demand soared.
\"We are one of the largest MySQL sites in production,\" said Owen Van Natta, 37, chief operating officer . \".
Popular open-MySQL
Van Natta explains that the source software is \"a revolution for young entrepreneurs\" in part because it lets them not have to pay Oracle\'s license fees.
But the complex is heat. Literally.
\"In computing, they get hotter as things get smaller,\" Van Natta said . \".
He recalled that when he first joined the company in late 2005, the company grew so fast that it almost collapsed.
\"We are trying to predict how many new users we will get, how they will use the site, and what services we need to provide,\" he said . \".
There are not enough people to do all the analysis.
\"We just wanted to put the wheels on the van.
\"He was frightened when he went to check the data center.
\"There\'s such a big fan \"--
Raise your hands to indicate the size of the grapefruit--
\"Hide between servers.
There are more than 110 degrees in some aisles. \"And the data-
The center staff are plugging in more servers and screwing them into racks to try and keep up with the rapidly expanding sites.
The plexiglass side of the server rack is distorted by high temperature.
\"I am, like, Madie! \" he recalls.
\"We need to make a breakthrough on this issue!
Continue to grow.
On June 2006, the website was open to the work network.
From the CIA and the IRS to Macy\'s, McDonald\'s and time, there are more than 20,000 employees. , and the U. S. Marine Corps.
Even MySpace, considered by many as Facebook\'s rival, has a network of 22 employees.
Then on September, Facebook announced what it called \"open registration\": anyone with a valid email address can join a regional network.
This is an auspicious moment. -
Until the rise of the Facebook community, it almost destroyed its creators.
The problem is a new option called a news feed that creates periodic reports about activities in a network or a group of friends.
It looked like a good idea at the time, but there was a revolt in the Facebook community.
Users feel that their personal information is broadcast to the network without their permission.
It\'s okay. they all released it publicly.
Or, it only works for friends or people who are already in their network.
Facebook is a fast one. moving, throw-it-up-and-see-if-it-
Usually a feature will be added to observe how people use it and add additional privacy controls etc based on feedback.
But this time, Zuckerberg and his team made a mistake and didn\'t put the privacy feature first.
Take advantage of another new feature that allows individuals to start their own problems --
Disgruntled users have set up a group called \"students\" against the Facebook news feed (Facebook\'s official petition ).
Ironically, the news subscription service itself then spread the campaign (\"Your friend has just joined the group! \").
In less than 48 hours, 700,000 people have already participated in the protests, and the blog Circle announced that this is the end of Facebook.
News workers camp outside Facebook\'s office as if a bald Britney was locked in.
\"When we talk about what to do, there\'s a funny email thread,\" Zuckerberg said . \" He was trapped in New York, defending himself from media attacks.
\"Someone wrote, \'OK, like midnight, we want to leave.
But we couldn\'t even look through the blinds because they were recording us.
I pay $50 to go naked.
Zuckerberg posted an open letter to users via a blog at The New York hotel.
\"We really screwed this up,\" he wrote . \".
\"When we launch news and mini
We are trying to provide you with a range of information about your social world.
Instead, we\'re not doing well in explaining new features and doing worse in getting you to control them.
\"To add better privacy features, his engineers worked for three days 24 hours a day.
The storm finally passed, and Zuckerberg now claims that news coverage was actually hit.
\"Once people have control and know how to use them, they like news reports,\" he said . \"
\"Actually, we have more news in one day for 19 million users than all the other media.
\"(Facebook is also stuck in a more lingering dispute: when the site was first launched, four other Harvard students filed a lawsuit claiming Zuckerberg had stolen their ideas.
The accused of Facebook filed a counterclaim.
The lawsuit continued at the press release.
) \"We are private and we just don\'t talk about such things openly.
\"At the end of the day in the Facebook conference room, Zuckerberg politely avoided questions about the company\'s financial situation.
Last spring, Facebook received another injection from a venture capital fund ---
$25 million led by Greylock Partners and Meritech Capital;
Accel and Thiel have also reinvested.
But conversations with the executive team make it clear that Facebook no longer lives on venture capital cash, at least on cash.
When I met with Kohler, who joined Facebook as vice president of strategy and business operations, I asked straight away if a report claiming the company\'s earnings was correct.
At the beginning, he shouted.
\"It depends on how you see GAAP accounting.
But then he admitted: \"Our growth is very fast. we fund the company\'s growth through revenue and business operations, not financing.
\"These businesses are very big.
Motogitz, co-founder and engineering director of Facebook, explained that in addition to 200 employees and prime Valley office space, Facebook has multiple server facilities.
The company will also invest in what COO Van Natta calls \"millions of dollars\" in more infrastructure \".
So how does Facebook make money through advertising and sponsorship?
Apple, an early supporter, sponsored a website for iTunes enthusiasts.
Among other things, JPMorgan Chase and southwest bank pay for similar projects.
The \"flyer\" is an online version of the paper ads that students use to promote activities and also provides a very meager source of income.
There\'s a new student. but-
The local advertising business is growing.
However, a large sum of money comes from an advertisement --
The software giant will put banner ads on the site by 2011.
This reflects a deal that MySpace signed with Google last year.
(MySpace reportedly received $0. 9 billion in three years.
Facebook has not yet published the value of its projects, and neither party will comment on these terms.
) Facebook has just signed an agreement with Comcast to create a scenario and broadcast it online based on the user\'s situation
Generate video content.
The series, called \"Facebook diary\", will be broadcast on Facebook and Ziddio.
Comcast\'s video-
Upload the website as well as the video through Comcaston-demand service.
\"Well,\" Zuckerberg said, \"You have Viacom from a news group. , and Yahoo.
So you will compare and think. we are a technology company, but we are a society.
How it works for us \", as everyone recalls from exciting socks --
Puppet Day for Web 1.
0. You hatched an idea, built it into a company, and developed an exit strategy ---
This is the key to taking the business to a new level and getting a return as early as possible --
Provide stage investors for their money and the hard work of their employees.
There are two basic formulas: sell to a larger company or make an initial public offering.
In all the discussions about valuations and acquisitions, not to mention the pressure on investors and employees with stock options, Zuckerberg has to consider quitting, right? -
\"This applies a certain framework to thinking about things,\" he said . \" He decompressed after a full day\'s meeting.
\"If you sell your company, it\'s the exit.
That\'s not what we think.
He paused for a moment and then sighed and said, \"Well, Viacom of News Corp. , and Yahoo.
Of course, you will compare and think. This website is a social networking site, but we are a technology company.
What does that mean to us, he said? \"The company-wide focus is on innovation and engineering, and commitment to optimize the user experience.
The goal is not to create a media company.
This is not selling movies.
\"There\'s a way you can do this, but now we\'re focused on building this.
If you look at our data, this is a good decision so far.
\"But eventually\" at some point it may make sense to do something.
But we are not in a hurry.
\"A clue to the company\'s future plans comes from early investor Thiel, who directed Zuckerberg in last year\'s acquisition negotiations and a whirlpool of rumors.
Thiel asserts that the bottom line is, \"it\'s more valuable than anyone outside.
He pointed out that the growing user base and page views are evidence.
\"The person who understands power is the user.
People who want the company don\'t understand the power and don\'t want to pay enough for it.
So we don\'t sell.
He added: \"I think the sale of MySpace is a huge mistake.
Sales of Flickr to Yahoo--A huge mistake.
A better idea, he argues, is to focus on technology, which he says is a huge force for the Facebook team and continue to grow the company.
He pointed out a list of benchmarks that they all wanted to see.
\"Can we have 35 million users this year ? \" This will be the key.
\"If we see this in high school space, it will be very important.
\"But Thiel knows that the ticking clock, determined by a rule of the Securities and Exchange Commission.
\"Once we find 500 shareholders, we will be forced into a situation where full financial disclosure is necessary,\" he said . \".
(Facebook employees own shares in their pay.
) Most companies went public at that time.
\"But our current bias is not to do so as soon as possible.
\"What seems most likely is a version of Facebook, which is publicly traded, that might mimic the eccentric Dutch --
Google submitted an auction IPO in 2004.
It looks natural;
Facebook admires the minimalist sensitivity of Google\'s design, the focus on engineering, and at least the \"no evil\" philosophy of theoretically providing information for its business.
Most importantly, if handled properly, the IPO would have the founders firmly at the helm, just like Google\'s Sergey Brin and Larry Page.
The IPO appears to be a great fit for Meritech Capital Partners, who participated in Facebook\'s last round of financing a year ago.
\"Of course, most of our companies go through the liquidity of the public market,\" said Paul Madera, founder of Meritech . \".
\"Today, the public market seems to pay more than the acquirer.
\"If Facebook gets a very big offer, they have to think about it,\" he said.
\"But today, any offer of about a billion dollars will be low.
But Zuckerberg insists nothing will happen soon.
\"This is a very big change if you go public ---
All the rules and things, so it\'s not something you do easily.
\"At the moment, the company is expected to double the number of its engineering teams this year (the first step to view the facebook app ).
Com/job_puzzles) and its 50-Customer-
The service group, led by Tom LeNoble, operates the global service business for Walmart\'s Palm and customer service. com and MCI.
Most of his delegates are from top-
Shelf University
(According to my estimate, there is a $5 million tuition fee on Facebook that deals with customer service.
) The influx of new users-
100,000 the agreement was signed in the past day of February.
The university market in Canada and the UK is growing by nearly 30% per month (according to British tabloids, Prince Harry and his girlfriend are Facebook users), currently, among all users, nearly 28% of users are not in the United States.
Slowly but surely, the site adds older people: 3 million of users are between 25 and 34 years old, 380,000 are between 35 and 44 years old, and 100,000 of ground-breaking users are currently eligible
With this data, you can definitely see the public.
Market investors are excited. Thirty-
Six months ago, Zuckerberg was a sophomore and was cruising around California during the summer vacation.
Now, he approved everything from the new employee to the event of each advertising partner and hosted a very-much-
Set up a company.
Zuckerberg was even invited to speak in Davos this year.
\"That\'s great,\" he said, and plot to lean forward. \"I wore shoes.
Just tell us your requirements, we can do more than you can imagine.
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