- Monday, 30 November 2009
- INQ Mobile
- RSS
Journalism is a trade rather than a profession, a bit like bricklaying
Facebook is haemorrhaging cash
FACEBOOK IS fast running out of cash and its CFO Gideon Yu has flown to Dubai in a desperate bid to find an Arab sugar daddy.
Plan B is to make a whole lot of people redundant and restructure the company so it does not cost quiet so much to run.
Apparently the outfit is likely to make $100 million less than the company anticipated a year ago, thanks to the fall in the US economy.
The firm raised about $500 million but has already spent a lot of it and even more will be needed next year. Analysts think it only has about a year's worth of cash in the bank.
Yu was in Dubai meeting and greeting Dubai International Capital, exploring fundraising options. This is mostly because US investors are not coming up with any cash.
We will know if he has been successful if in the next month or so there are no P45s and pink slips issued. ยต
L'Inq
Alley
Insider
Share this:
ShareBusiness Intelligence Software
Customer Relationship Management (CRM)
Enterprise Accounting Software
Enterprise Resource Planning (ERP)
Enterprise Systems Management
They will wait till its gonna go bankrupt and then buy it for pocket change.

"This is mostly because US investors are not coming up with any cash." ...... because it is one of those sub-prime investment lemons?

I'm sure the Arabs will less than pleased at being tapped for loss leader just to keep some airheads in the style to which they have become accustomed/indebted to.
Maybe if they hadn't spent so much money completely redesigning the site (and p***ing off most of its users in the process) then they wouldn't be out of cash now. 
Hopefully now that these dopes are out of cash, I can look forward to not having to learn to navigate a completely new layout every six months.
Say what you will about Arab investors, but they tend to stick to conventional investments with clear potential and real value. And well, suffice to say that Facebook is not one of these.

Sooner or later, people will grow tired of this essantially pointless website and it will begin a slow but undeterrable decline.
Wondering if those inactive accounts more than a week is worth keeping? Why it is call social networking? Is not what a facebook can do for you but what you can do for facebook......