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Who Founded Facebook?

July 18th, 2007 • Related • Filed Under

There’s been a lot of talk recently about an IPO for the latest internet flavour of the month, Facebook.Â The official founders of Facebook are Mark Zuckerberg, Chris Hughes and Dustin Moskowitz who will make a fortune if Facebook did float or was acquired.

However, there are a number of individuals, including three of Mark Zuckerberg’s Harvard classmates, who also want a piece of any pie created. Mark’s classmates are claiming that Zuckerberg stole the idea, source code and business plan for their social networkng site called HarvardConnection, that they claim later materialised as Facebook.

I always find these legal standoffs about who’s going to get paid when a company floats or is acquired interesting, after I missed out on my big paycheque during the first dot com boom.Â My company was about to be acquired for a 9 figure sum, but 24 hours before the deal was going to be announced to the market and I paid off my mortgage and bought a VERY flash car, the acquiring company got cold feet because a lot of the senior directors had taken legal action to ensure that they got to cash in all their shares, which made the acquiring company realise that all the talent was going to walk out the door as soon as the deal closed.

It’s a problem that many companies face when they go through a merger or a acquisition. I think Google are going to face this problem after August this year, when the four year options that many key employees got when Google floated vest. Google have taken steps over the last couple of years to help employees unlock some of their wealth, but I’m convinced there’s still going to be a mass exodus.

It could be a very exciting time for the internet though, as it might allow some of the talent from the ‘Google University’ to pursue their own private projects similar to how the Paypal ‘graduates’ (LinkedIn, YouTube, Slide, SpaceX etc) spent their new-found wealth.

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About the Author

Everton is based in London and has worked in the internet and mobile space for over ten years now, and before that worked in corporate strategy and consulting. He has a degree in Economics from Cambridge University, and currently runs the Portal and online operations for one of the largest ISPs in the UK. He also writes for Windows 7 News.

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There Are 8 Responses So Far. »

#1

Comment by Angie on 18 July 2007:

You know, all concepts like Facebook usually do have multiple inspirations. You talk about the idea with your friends as it begin to take shape. You see pieces of this and that on other concepts you like. I’m sure his old buddies have a point.
#2

Comment by Chris Hall on 18 July 2007:

Sod Facebook what happened with the mortgage and the car ?
#3

Comment by Everton on 18 July 2007:

The deal fell through, so I’ve still got a big mortgage and no flash car.
#4

Comment by horisly on 18 July 2007:

it’s said that google is pursuing Facebook, againesting MS.
#5

Comment by listikal on 18 July 2007:

I went and checked out the site that the guys who claim that Zucker stole their idea, and it’s absolute crap.
#6

Comment by Bush Mackel on 18 July 2007:

I wish I had founded um….ANYTHING.
#7

Comment by Yael on 18 July 2007:

I think what you say make sense. Google might loose some of her key employees
#8

Comment by ForumeR on 20 July 2007:

What is relationship between FaceBook and netLog?? I’m not so active with both of them, but i opened account with them.