The exceptional brain behind Facebook, Mark Zuckerberg, is arguably one of the most successful tech moguls of his time. Back in 2006, the tech world was abuzz with news that the businessman has turned down a hefty offer from Viacom, and later from Yahoo. Though he had a lucrative offer with a whopping $750 million and $900 million being thrown around, Zuckerberg refused to sell his brainchild.
Fast forward to today, Facebook is now known as Meta Platforms Inc. (META), and is still flourishing under Zuckerberg’s ownership. The company even has a staggering market cap of $1.22 trillion with Facebook having acquired other social media platforms like Instagram and WhatsApp. But what exactly is it that led Zuckerberg to hold onto Facebook despite the tempting offers?
Mark Zuckerberg Reveals His Mindset Back In 2006 When He Turned Down Offers From Viacom And Yahoo
While speaking in a recent interview with Dwarkesh Patel on his YouTube channel, Mark Zuckerberg clarified why he made the decision to not sell Facebook. The tech mogul gave a detailed insight into his decision-making process during the pivotal moments when he turned down some lucrative offers.
Zuckerberg also opened up about whether he would have entertained a $5 trillion offer instead of the billion-dollar ones to sell his brand. He was also asked about his exact thought process when he was presented with those offers in 2006. Zuckerberg admitted that when the offers came knocking, he wasn’t equipped with the financial resources to conduct a sophisticated analysis of the deals.
“I didn’t really have the financial sophistication to really engage with that kind of debate,” he said. However, his advisors presented both positive and negative arguments about the offers. However, it wasn’t just his advisors that led him into making the decision of turning down even the most lucrative offers that came his way.
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Mark Zuckerberg Clarifies Why He Refused To Sell Facebook
Other than his advisors asking him to resist the allure of hefty sums, Mark Zuckerberg’s belief in Facebook’s mission played a crucial role in his decision-making. The tech mogul admitted to having long pondered over personal questions and given a long thought to what he would do if Facebook were to be sold.
He gradually concluded that even if he sold the company, he would just find a way to set up another similar venture. “I did some analysis like ‘what would I do if I wasn’t doing this?’ So I think if I sold this company, I’d just go build another company like this and I kind of like the one I have. So why?” Zuckerberg said, answering the question about his decision to not selling Facebook.
Zuckerberg is successfully leading the Meta Platforms Inc. and the company is evolving while branching out into several other ventures. Needless to say, Zuckerberg’s firm belief in his brainchild is working its magic as he may have already predicted and we’re quite certain there’s more to see in the future.
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