The FaceBook Effect

Here we go again with another book about FaceBook. The best part of the book focused on the time when FaceBook started getting really popular, and people wanted to buy the company. Zuckerburg was not convinced that selling was the right choice. But he liked talking with important people, which included potential suitors to buy the company.

The main question during the acquisition talks was what the company was worth. Initial low bids were somewhere around 600 million. Visionaries thought FaceBook could be worth 1 billion. Eventually even Zuckerburg thought the company should fetch over a billion dollars.

Another fun part of FaceBook history was when dissenters formed FaceBook groups. The biggest and most vocal groups were ones that protested changes in the look or operation of FaceBook itself. For example, there was a legal change of the terms of service. The change seemed to imply that FaceBook would forever own anything you share on it. Users rioted, created a FaceBook group, and protested. Zuckerburg caved in, revoking the changes.