Techcrunch claims it's gotten a hold of documents showing the progression of negotiations between Yahoo and the social networking site Facebook. An early offer by Yahoo of $37.5 million for 5 percent of the company was rejected. By mid-year, Yahoo offered $1 billion for the whole shebang (also rejected). Yahoo was supposedly going as high as $1.6 billion, but talks broke down and that was that. The $1 billion offer was based on the assumption that Facebook revenue in 2009 would reach $608 million - kind of a leap considering that 2006 revenue will be around $50 million. An interesting little nugget, if true. Take it for what it's worth.
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