Court papers have told the world one fact that we already know: Facebook is not worth $15 billion. This ‘revelation’ comes when ConnectU is suing Facebook and its CEO Mark Zuckerberg for stealing their idea and code.
That value, $15 billion, was the value when Microsoft bought a 1.6 percent stake on Facebook for $240m, but its common stock is worth $3.75 billion. ConnectU argued that the deal was bogus since they lied about its value when Microsoft went and bought a stake in the social network.
In other words, ConnectU apparently nabbed Facebook’s internal valuation – meaning there is a mole in the company. But the NY Times is saying that Microsoft bought preferred stock and not common stock – meaning that they have more rights as shareholders.
So now, we don’t know the value – but we do know two things: It is below what Microsoft evaluated it and it is too high what ConnectU claims.