Quote Originally Posted by tony
Some people enjoy having a business and care not to sell out.. its the same reason why companies like Linksys or Publix will not go public. Facebook probably grosses in a certain amount of time (say 2 years) more than a billion dollars so why sell if you can still own the company and make the amount you were offered then what is the point? The kid probably doesn't even do a great deal of work on a day to day basis.. there are too many unknown variables to call the kid stupid or even greedy.
Linksys sold out to Cisco for 500 million a few years back. The owners stayed on to run the company.

The guy's holding out for more money. He's getting greedy after seeing youtube go for 1.6. Unfortunately there's an upper limit to the number of HS/College kids out there and they already spend a lot more time on MySpace.

Facebook isn't a billion dollar company. Not even close. Most estimates put them at 50 million in revenue right now and that's sure to fall as Myspace continues to break away. Google probably spends more than that on swag for its employees. The guy's rolling the dice that Google or Yahoo will up the ante just to stay on top. Problem is there are cheaper alternatives.