Is Facebook’s Value $3.7 Billion – less or more?
Facebook has settled last summer a dispute with a rival social network, ConnectU. The ConnectU founders — the Winklevoss brothers and colleague Divya Narendra had accused Zuckerberg of ripping off their idea for a college-based social network. The case was settled for $65 million.The Associated Press has obtained a court filing………
which shows the exact breakdown of cash and stock Facebook used to settle the case: $20 million in cash, and 1,253,326 shares of Facebook stock. The stock is worth either $45 million, based on the Microsoft valuation, or $11 million under Facebook’s own appraisal. Which means ConnectU received anywhere from $31 million and $65 million for settling the suit, depending on which stock valuation is used.
Source Associated Press
