Does anyone else see the similarity between Facebook’s attempts to raise additional funds and last week’s episode of The Office?
A quick re-cap. Michael Scott’s paper company is offered a buyout by his old employer. On their way to the negotiation table, everyone is eager to ensure that Michael Scott doesn’t reveal that his company is actually flat broke, and desperate for the money.
Enter Facebook Chief Operating Officer Sheryl Sandberg:
“We absolutely do not need to take money,” she said. “We might take money, but it doesn’t mean we need to.”
OK, while Facebook is not exactly flat broke, it is playing a game of brinkmanship with venture capital firms–which value Facebook in the $2-3 billion range instead of the $5-6 billion Sandberg wants.
If you were a betting (wo)man where would you put your money? Facebook getting the valuation it wants, or VCs getting something lower?