Re:Mark Zuckerberg's Most Valuable Friend
by adrianwaj on Sunday October 03, 2010 @01:39AM
(#1752182)
How did Mark retain control of the board specifically?
Re:Mark Zuckerberg's Most Valuable Friend
by bootload on Sunday October 03, 2010 @02:56AM
(#1752269)
"... Donald Graham, the chairman of the Washington Post Company, who once tried to hire Ms. Sandberg, says that in the last two years a lot of questions about Facebook’s viability have been put to rest. ..."
I'd argue that Zucks most valuable friend post Sean is Graham. Graham helped set the company up so control falls to the owner and not the board. The Washington Post is set up the same way. Facebook isn't going away till the founder wants it to.
Re:Mark Zuckerberg's Most Valuable Friend
by adrianwaj on Sunday October 03, 2010 @03:32AM
(#1752319)
So beyond just having the founder take up the majority of the board seats? I suppose one needs to first find investors comfortable to let this all happen.
You make it a negotiating point; you might have to accept lower valuation or other terms to protect investors if you push on board control. Being obviously brilliant, responsible, and experienced (Parker) goes a long way in those negotiations too.
Sean got to see what happens when shortsighted VCs get control before (at Napster and then Plaxo); he's smart enough to not get screwed the same way thrice.