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Facebook CFO 'quits'

by on01 April 2009

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Preparing to go public


Facebook's money man Gideon Yu, has cleaned out his desk and left the company amid speculation that the outfit is about to go public.

The advert for Yu's replacement calls for someone with "public company experience" something that Yu didn't have, suggesting he might have been pushed to go by his Google overlords. Facebook said that Yu, 37, became Facebook's CFO in July 2007 after stints with Yahoo, Google and YouTube. While he was at YouTube he
helped negotiate the site's sale to Google in a deal valued at $1.76 billion.

While denying that it has any plans to go public, Facebook has been growing and is on track to grow its revenue by 70 percent this year. Strokers of beards and people in the know think that Facebook would be barking mad to go public right now because of the poor state of the IPO market.

However if the outfit is not considering it, then why give Yu, who has been giving the company good results, the elbow?
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