So it turns out Microsoft tried at some point to buy Facebook. Mark Zuckerberg turned down Bill Gates people. The Facebook CEO is said to have turned down a $24 billion offer. Steve Ballmer, the former CEO of the tech giant Microsoft recently revealed the news. Microsoft was about to purchase the largest social network in the world just for $24 billion. Ballmer left Microsoft in 2014 and is now the owner of the Los Angeles Clippers and an investor in Twitter.
In an interview with CNBC, Steve Ballmer revealed that the purchase of social media giant Facebook by the tech giant Microsoft was a business that was about to happen at the time when he was CEO of the tech giant Microsoft. But, at that time the social media giant Facebook did not had the network size of users that it has today.
The proposal was actually made for acquiring a small part of the company just for $15 billion dollars and in every six months at that time they suggested to acquire an additional 5% simply to complete the acquisition.
According to the former CEO, $24 billion is would have been paid in total for the Facebook acquisition. Unfortunately the deal never saw the light of day. In fact, it seems that was not the only time Microsoft tried to buy Facebook. This was the second attempt to buy the social media giant Facebook. It seems however that the Facebook CEO, Mark Zuckerberg never relented. He knew he was building an empire and never yielded to any attempt to acquire his business.
When Ballmer was asked about why the deal he did not materialize, he just said that the CEO of the social media giant Zuckerberg did not yield regarding the deal as he always respected that.
The lesson for every entreprenuer
Vision is everything. While many tech companies have turned down offers from tech giants and crushed, some have actually thrived. It’s always tempting to get the cash. However, one would never forgive themselves if they saw the entity they sold for a nickel now being worth a dime. Aftre all has been said and done, do not be like Yahoo!