Facebook deal still hasn’t happened

October 26, 2007 | Matt Marshall | Comments |

facebooklogo-latest.jpgYesterday, we pointed to a Forbes story saying that Facebook may have received $500 million from two New York hedge funds.

This afternoon, a well-placed source told us no such deal has been made. “People are throwing money, left and right. Maybe it’s on the table, but what does it mean?,” the source told VentureBeat. “That’s different from the company accepting it. The $500 number is rumor and speculation.”

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About the Author, Matt Marshall

Matt Marshall is editor and CEO of VentureBeat. Follow him on Twitter at @mmarshall, and follow VentureBeat on Twitter at @venturebeat.

  • I think its great to see the site finally getting the VC, and it will be good to have more competition - without Google owning everything.
  • Makes sense -- it's not in the interest of a hedge fund to buy up Facebook. That's simply not what they invest in and there are only a handful of hedge funds that would even think about dabbling with that level of cash on such a risk.