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Zuckerberg Spills the Beans About Facebook Finances
CEO's chattiness at staff meeting leaked
By Laila Weir
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Posted Feb 1, 08 12:12 PM CST
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(Newser)
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Mark Zuckerberg got talkative with the Facebook staff yesterday. The boy CEO shared intimate details of the privately-owned company’s finances to an all-staff meeting with an open phone-in line—“It was really unbelievable,” marveled one. The numbers indicated a fall from break-even grace for the company in 2008, when it will have a negative cash flow of $150 million, reports All Things Digital.
But Zuckerman told the meeting he didn’t care about that. After all, Facebook has brought in $300 million in investments recently. Among the other nuggets: Zuckerberg projected Facebook’s $150 million 2007 revenue to rise to $300-350 million in 2008; the company will spend $200 million in capital expenditures and expand from 450 to 1,000-plus employees; and Facebook’s EBITDA will be $50 million in 2008.