Looking every bit the part of a 20-something hipster dressed in a grey CBGB T-shirt, a grey jacket and black jeans, Accel Partners general partner Jim Breyer said this morning at Fortune magazine's iMeme conference that he and Facebook CEO Mark Zuckerberg are on the same page when it comes to the prospect of Facebook selling.
"Neither of us wants to sell," he said, adding that that doesn't mean the company won't change its mind in the future. Breyer, who is one of the three directors on Facebook's board, said the offer price that is the primary variable that goes into the sell versus IPO equation. "At some point, we're reasonable people," said Breyer adding that any reasonable offer would need to exceed $1 billion. And he confirmed the company is doing well over $100 million in annual revenue, is profitable, ebidta positive and growing quickly.
Breyer also pointed out the negatives of all the speculation regarding a Facebook sale to a potential acquirer such as Microsoft or Google. "Companies are best built when they're under the radar," he said. "The last thing we need to discuss is what it's worth," instead preferring to focus on the Facebook's monetization, platform and internationalization strategies.
For more on the iMeme conference, see:
Eric Savitz
Amit Chowdhry
Photo credit: Mark Zuckerberg
Tags: facebook, accel, jim+breyer, vc, venture+capital
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isnt essentially all of facebooks revenue from one customer, Microsoft?
and worse, the revenue comes not from actually creating value for avertisers, but instead from granting MSFT an exclusive right to serve ads (and therefore block GOOG from buying the same right, as it did with MySpace?)
Facebook may be worth $1BN or whatever, but it aint because its got a healthy P&L.