Back in 2005, Donald Graham‘s friend Mark Zuckerberg offered to sell him 10 percent of his young and growing company, Facebook. According to the book
The Facebook Effect, “Graham and Zuckerberg verbally agreed to terms of a Washington Post Company investment in Facebook.”
Before the deal was sealed, Zuckerberg got a better offer from another company, and when he brought it up to Graham, the Washington
Post chairman “released him from his obligation to the Post [Company].”
Today, with the Facebook IPO, that 10 percent could be worth more than $7 billion. According to PrivCo, which researches private
companies, that would be at least “double the market capitalization of the entire Post Company.”
All’s not lost for Graham, however. He sits on the Facebook
board and, according to
Forbes,
holds 1 million shares of Facebook stock. Those shares now
could be worth as much as $50 million.
Graham would not comment to The Washingtonian. A company executive said in an
e-mail, “Don has nothing to say.” She included an earlier quote from
him: “I won’t sell any
Facebook shares as long as I’m on the board. When I leave, all
my Facebook shares will be donated to two or three DC education-related
charities.”
Regarding the 10 percent deal that never was, we send our condolences.
File Under Oops: The "Washington Post"-Facebook Windfall That Got Away
How the Post Company missed out on a deal that could have been worth $7 billion.
Back in 2005,
Donald Graham‘s friend Mark Zuckerberg offered to sell him 10 percent of his young and growing company, Facebook. According to the book
The Facebook Effect, “Graham and Zuckerberg verbally agreed to terms of a Washington Post Company investment in Facebook.”
Before the deal was sealed, Zuckerberg got a better offer from another company, and when he brought it up to Graham, the Washington
Post chairman “released him from his obligation to the Post [Company].”
Today, with the Facebook IPO, that 10 percent could be worth more than $7 billion. According to PrivCo, which researches private
companies, that would be at least “double the market capitalization of the entire Post Company.”
All’s not lost for Graham, however. He sits on the Facebook
board and, according to
Forbes,
holds 1 million shares of Facebook stock. Those shares now
could be worth as much as $50 million.
Graham would not comment to
The Washingtonian. A company executive said in an
e-mail, “Don has nothing to say.” She included an earlier quote from
him: “I won’t sell any
Facebook shares as long as I’m on the board. When I leave, all
my Facebook shares will be donated to two or three DC education-related
charities.”
Regarding the 10 percent deal that never was, we send our condolences.
Most Popular in News & Politics
The Missing Men of Mount Pleasant
Another Mysterious Anti-Trump Statue Has Appeared on the National Mall
Muriel Bowser Defends Her BLM Plaza Decision and Looks Back on a Decade as Mayor
Yet Another Anti-Trump Statue Has Shown Up on the National Mall
8 Takeaways From Usha Vance’s Interview With Meghan McCain
Washingtonian Magazine
July Issue: The "Best Of" Issue
View IssueSubscribe
Follow Us on Social
Follow Us on Social
Related
How Would a New DC Stadium Compare to the Last One?
The Culture of Lacrosse Is More Complex Than People Think
Did Television Begin in Dupont Circle?
Kings Dominion’s Wild New Coaster Takes Flight in Virginia
More from News & Politics
Guest List: 5 People We’d Love to Hang Out With This July
The Washington Nationals Just Fired the Manager and GM Who Led Them to a Championship. Why Has the Team Been so Bad Since?
FBI Building Now on Track to Leave DC After All, Whistleblower Leaks Texts Suggesting Justice Department Planned to Blow Off Federal Court Orders, and NPS Cuts Leave Assateague Island Without Lifeguards
Families of DC Air Disaster Victims Criticize Army’s Response, Trump Settles His Scores Via Tariff, and Police Dog Kicked at Dulles Returns to Work
This DC-Area Lawyer Wants More Americans Betting on Elections
Trump Threatens DC Takeover, Says He’d Run the City “So Good”; Supreme Court OKs Mass Federal Worker Layoffs; and You Should Go Pick Some Sunflowers
Trump Pledges Support for RFK Stadium Plan, Ben’s Chili Bowl Will Strand Us Half-Smokeless for Months, and Pediatricians Are Suing RFK Jr.
Muriel Bowser Defends Her BLM Plaza Decision and Looks Back on a Decade as Mayor