Facebook Sells Its Soul to Satan er Goldman Sachs
If you've been considering getting off Facebook in recent weeks or months after multiple privacy changes and increasing obnoxitude in the form of Farmville invites, here's one more reason: Mark Zuckerberg just made a deal with the devil.
Goldman Sachs has reached out to its wealthy private clients, offering them a chance to invest in Facebook, the hot social networking giant that is considering a possible public offering in 2012, according to people familiar with the matter.
On Sunday night, a number of Goldman clients received an email from their Goldman broker, offering them the opportunity to invest in an unnamed “private company that is considering a transaction to raise additional capital.” Another person briefed on the deal said that Goldman clients would have to pony up a minimum of $2 million to invest and would be prohibited from selling their shares until 2013.
How on Earth would one go about frontrunning Facebook? I guess we're about to find out.
The SEC is apparently investigating this new trend, wondering why on Earth the Facebooks and Twitters of the world wouldn't want to go Pets.com and just take it public already. Gee, if they need an investigation to figure that out I question the caliber of genius they have working there.