This Kid Turned Down $1 Billion!

Fast Company:

Mark Zuckerberg’s life so far is like a movie script. A supersmart kid invents a tech phenomenon while attending an Ivy League school and launches it to rave reviews. Big shots circle his dorm to make his acquaintance; he drops out of college to grow his baby and Change The World As We Know It.

Just three years in, Facebook which started as a networking site for college students has become a go-to tool for 19 million registered users, including employees of government agencies and Fortune 500 companies.

According to comScore Media Metrix, which tracks Web activity, it is now the sixth most-trafficked site in the United States–1% of all Internet time is spent on Facebook. ComScore also rates it the number-one photo-sharing site on the Web, with 6 million pictures uploaded daily. And it is starting to compete with Google and other tech titans as a destination for top young engineering talent in Silicon Valley. Debra Aho Williamson, a senior analyst at eMarketer, says it is on track to bring in $100 million in revenue this year–serious money indeed.

The New York Times and others reported that Yahoo had made a $1 billion offer to buy Facebook and Zuckerberg and his partners had turned it down.

“I’m here to build something for the long term,” Zuckerberg says. “Anything else is a distraction.”

Photo by Michael Elins.

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