Biz Stone, Co-Founder of Twitter discusses the approach to sell to Facebook. First Yahoo approached them ‘they thought they could buy anything’. But Evan and Biz were not interested. ‘Zuckerberg was a funny situation, because Evan and I were going to visit Palo Alto but we had not even discussed the Facebook acquisition deal before that. So they sat in Evans car and thought about the matter. Biz suggested that if they came up with the biggest number in the world (valuation) which nobody in their right mind would accept and then offer that to Facebook, there was no way Mark would accept.
- So Evan and Biz went to Palo Alto and met Mark and he showed them around Facebook. Finally Mark took them to a small side room. Mark said he was not fond of talking numbers, but could Evan and Biz give him a number (purchase price)? Evan presented the ‘crazy number’ and Mark’s response was ‘let’s go to lunch’. After lunch Evan and Biz managed to get away without answering to the offer. Later that afternoon Mark agreed to the ‘crazy’ terms.But the deal never happened.
- “Study hard what interests you the most in the most undisciplined, irreverent and original manner possible.”