Daily Archives: January 3, 2011

I was wrong about Facebook’s valuation. Way wrong. Lee Lorenzen was right. Way right.

Back on October 11, 2007, I wrote that Lee Lorenzen was nuts. Back then he said that Facebook was worth $100 billion. He’s getting more and more right every day and I’m getting more and more wrong. Especially after Goldman Sachs just kicked in $500 million and valued the company at $50 billion.

I told Zuckerberg to sell at a $15 billion valuation. Why? I had watched other companies, like PointCast, turn down offers to sell and face doom. But, Zuckerberg and Lorenzen had real vision and I didn’t.

Ahh, always fun looking back at history and seeing just how wrong I was.

So, where do I buy some stock for the IPO? Let’s see, if every user of Facebook buys $100 worth, that’d be a $600 billion valuation at IPO. Can I get in before that happens? :-)