Facebook deal still hasn’t happened

Matt Marshall | October 26th, 2007

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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  1. October 26th, 2007
    5:48 pm

    VentureBeat » Facebook roundup: Hedge funds invest $500 million, and more said:

    [...] update; a good source tells VentureBeat this story isn’t true, no deal has been [...]

2 Comments

  1. October 28th, 2007
    3:44 pm

    Matt Alland said:

    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.

  2. October 28th, 2007
    3:45 pm

    Aniq Rahman said:

    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.

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