Facebook raising $50 million or so, says board member
Yesterday, Accel Partners VC Jim Breyer, who sits on Facebook's board with Peter Thiel and CEO Mark Zuckerberg, made an offhand comment about Facebook's unfinished financing round. Microsoft has already put in $240 million, and Facebook's board has authorized sleepless CFO Gideon Yu to go raise another $260 million. Here's what Breyer said to Silicon Alley Insider: "$50 million, $100 million, $200 million." He said it with a shrug, but we think his insouciance was feigned. That's because Facebook already has a firm commitment in hand for that $50 million Breyer mentioned. The board is still deciding whether to take that money.