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Facebook vs. ConnectU Settlement is Revealed

-Cash Money Pile-I’m guessing that you’ll be reading this in 20 places tomorrow but I figured that I’d link to the article and let you read it for yourself. AP was able to find all of the details of the ConnectU settlement through “copying [the blacked-out portions of the ConnectU hearing] from an electronic version of the document and pasting the results into another document.” Adobe seriously needs to get their team on this (if this was in fact from a PDF).

As I recall, this isn’t the first time that mysterious data has appeared in a document as blacked out yet copying and pasting revealed information (I recall a secret Google or Facebook presentation revealed hidden information through copy and paste). Anyways, the juiciest details of the article was the details of the ConnectU settlement which was buzzed about yesterday:

Under their settlement, Facebook agreed to pay ConnectU $20 million in cash and 1,253,326 shares of common stock. The stock was worth $45 million, based on the Microsoft valuation, but only $11 million under Facebook’s own appraisal.

That’s why the Winklevoss brothers weren’t too happy once they found out that the math didn’t add up. The numbers also suggest a Facebook valuation of $3.7 billion. That’s not far off the $4 billion valuation that private traders have been purchasing inside stock for.

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1 Comment »

  1. Putting a graphic over text never deletes the text.

    What if you notice the mistake and move the graphic ,

    or adjust the graphic from 0% transparent to 80% transparent ? This is not so strange.. I suppose you would do this if you wanted to stamp "DRAFT" over the top.

    Also these document formats store text in paragraphs, it doesnt store the location of every single letter, because different fonts have different properties, and changing the font afterward is always possible, sometimes when printing the printer changes the font from that described to one of its choosing – this may be done eg, to make printing faster, or just because Zigfreid said to do so .. "We are KAOS, we always use Arial in KAOS !"

    Comment by Leon — July 20, 2010 @ 5:07 am

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