How Mark Zuckerberg Made An Acquisition Offer To The Twitter Team
Biz Stone recently did an interview with Howard Stern. During the interview, Stone discussed how Facebook co-founder and CEO Mark Zuckerberg proposed a buy-out for Twitter back in 2008.
Facebook offered Twitter $500 million to acquire them in 2008. Stone told Stern that one day he showed up to work and Twitter employee Jason Goldman told him that Evan Williams was waiting in a car downstairs.
After Stone got into the car, he did not know that the Dorsey and Williams had a meeting scheduled with Zuckerberg to talk about the acquisition. After casually talking about a price, Stone thought of $500 million.
After entering a meeting room, Mark Zuckerberg took the only single chair in the room. Biz Stone and Evan Williams had to share a small love seat to discuss the price with Zuckerberg. Biz attempted to tell a few jokes, but they did not really work. “It seemed like he had twelve people in his head,” said Biz in the interview, “He was prepared for every scenario.”
Zuckerberg said that he did not like to talk numbers but said he would say “yes” or “no” to a specific number that they asked for. After they said $500 million, Zuckerberg said “that’s a big number.” There eventually was an offer in cash and stock, but Williams decided to tell him no thanks.
You can hear the whole interview here: http://matthewkeys.net/sterntwitter.mp3@amitchowdhry or on Google+ at +AmitChowdhry