founders-fund

Sean Parker's illustrious college career

Owen Thomas · 10/30/07 02:30PM

One of the chief justifications for Facebook's $15 billion valuation is that it traffics in real identities. To prove that you belong to a college or workplace, you must give the social network a matching email address. Unless, that is, you're an early employee and major shareholder. Sean Parker reportedly never even made it to college. But on Facebook, he lives out the fantasy of having simultaneously graduated from Columbia, Sarah Lawrence, Pepperdine, USC, UCLA, UC-Berkeley, New York University, and Stanford. All this in 2002, when he was also working on Plaxo. He's also the member of several regional networks; Facebook allows most users to only join one. So why would Parker, of all people, need so many fake IDs?

Facebook funders party naked

Megan McCarthy · 10/29/07 12:59PM

"One of my roommates tells me this morning that she went to 'the craziest party ever' in Pacific Heights last night," a tipster writes in. "It involved an indoor pool, a lot of champagne, naked people, and someone in a Viking costume who said he was a Facebook founder." Ah, she must be talking about the house owned by Founders Fund partners Ken Howery and Luke Nosek, nicknamed the Grotto. And who was the Hagar the Horrible Facebook Founder? "She's trying to find out his name from other friends who were there, but said he's tall, has dirty blond hair and glasses, and is not particularly attractive." Based on that somewhat unkind description, we'd guess the Viking was Sean Parker. Shame we weren't there to remind people that Parker's not actually a founder of the social network. The party was ostensibly held to toast Microsoft's recent investment into the social network, though we've heard whispers of other reasons behind the celebration. Were you there? Snap any pics? Let us know.

Facebook backers team up for an offer startups can't refuse

Owen Thomas · 09/17/07 09:06PM

Back in July, I speculated that Accel Partners VC Jim Breyer might use his position on the Facebook board to strongarm startups developing Facebook apps into taking its money. And sure enough, he's setting up a new fund to do exactly that. But he's cleverly cutting in Facebook itself, as well as fellow board member Peter Thiel's Founders Fund. Facebook CEO Mark Zuckerberg announced at TechCrunch40 that his company and its two main backers are forming fbFund, a $10 million pool of money that will invest between $25,000 and $250,000 in Facebook-app startups. As hard to resist as a solo offer from Breyer might be, a check offered by Breyer, Thiel, and Zuckerberg seems irresistible. And more than a little menacing.

Facebook's financial fibber-in-chief

Owen Thomas · 07/24/07 07:19PM

Peter Thiel's behind-the-scenes war with Sequoia Capital continues. The latest battleground? Gideon Yu, YouTube's former CFO, had planned to leave after the Google buyout of the online-video site to hook up with Sequoia as a partner. Instead, he's joining Facebook, the social network in which Thiel is an investor and a board member, as its CFO. It's a loss for Sequoia partner Michael Moritz, who has feuded with Thiel's Founders Fund. But it's undoubtedly a gain for Facebook. The social network, whose board members already like to play fast and loose with revenue figures, needs a CFO who's not above a little white lie. Like, say, YouTube's budget. Or what his career plans really are.