Comments on: SEC Gives Facebook The Greenlight To Go Beyond 500 Shareholders Without Going Public http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/ Startup and Technology News Tue, 10 Nov 2009 06:33:47 -0800 hourly 1 By: Ben Barren - Confessions of a Mad Man » $115B Budgeting Errors, $42B Giveaways, whats wrong with a $500m Twitter IPO ? http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2616741 Ben Barren - Confessions of a Mad Man » $115B Budgeting Errors, $42B Giveaways, whats wrong with a $500m Twitter IPO ? Thu, 05 Feb 2009 08:59:47 +0000 http://www.techcrunch.com/?p=29773#comment-2616741 [...] have the balls (even if they must have the # of employees to have to be public soon eh? update : oh IC different rules if u have exwashington COOs) I mean if the Australian government gives $42B to the stable white lower majority so they can pick [...] [...] have the balls (even if they must have the # of employees to have to be public soon eh? update : oh IC different rules if u have exwashington COOs) I mean if the Australian government gives $42B to the stable white lower majority so they can pick [...]

]]> By: spirit’s blog » Blog Archive » 2008年11月22日科技博客精选 http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2545958 spirit’s blog » Blog Archive » 2008年11月22日科技博客精选 Tue, 25 Nov 2008 07:24:13 +0000 http://www.techcrunch.com/?p=29773#comment-2545958 [...] 　　Tech Crunch：Facebook获美国证券交易委员优待 [...] [...] 　　Tech Crunch：Facebook获美国证券交易委员优待 [...]

]]> By: Phil http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2545246 Phil Mon, 24 Nov 2008 16:19:23 +0000 http://www.techcrunch.com/?p=29773#comment-2545246 Perhaps your not aware they are burning money and need further investment to stay afloat? Perhaps your not aware they are burning money and need further investment to stay afloat?

]]> By: SEC Rules http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2544209 SEC Rules Sun, 23 Nov 2008 13:42:40 +0000 http://www.techcrunch.com/?p=29773#comment-2544209 Fuck their stupid rules. What's the point of these rules? To protect the investor? Fuck it. Like our government knows how to protect investors. I always wonder why no one has taken up these issues under constitutional law. What right does the SEC have to require that individual investors be accredited under Reg D for private placements. Fuck that. What it basically claims is that only rich people are informed enough to invest in a startup. That's complete bullshit. It should be declared unconstitutional. Lets put it on the agenda right behind gay marriage. Fuck their stupid rules. What’s the point of these rules? To protect the investor? Fuck it. Like our government knows how to protect investors.

I always wonder why no one has taken up these issues under constitutional law. What right does the SEC have to require that individual investors be accredited under Reg D for private placements. Fuck that. What it basically claims is that only rich people are informed enough to invest in a startup. That’s complete bullshit. It should be declared unconstitutional. Lets put it on the agenda right behind gay marriage.

]]> By: Leana Rogers http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2544207 Leana Rogers Sun, 23 Nov 2008 13:37:01 +0000 http://www.techcrunch.com/?p=29773#comment-2544207 What a piece of complete crap that DOC frame is. How many people here hate frames. Everybody? Yeah. Everybody I guess. Look ugly. Work stupid. Look ugly. Did I mention they look ugly? What a piece of complete crap that DOC frame is. How many people here hate frames. Everybody? Yeah. Everybody I guess. Look ugly. Work stupid. Look ugly.

Did I mention they look ugly?

]]> By: Mark http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543907 Mark Sun, 23 Nov 2008 05:03:37 +0000 http://www.techcrunch.com/?p=29773#comment-2543907 Marc, so who were the shareholders? I think the far majority are VC, even if just individuals, and perhaps some public equity. One thing I agree with is that shareholders will be in for a big disappointment when their hype is leveled by the actual revenue dollars. Marc, so who were the shareholders? I think the far majority are VC, even if just individuals, and perhaps some public equity. One thing I agree with is that shareholders will be in for a big disappointment when their hype is leveled by the actual revenue dollars.

]]> By: voip http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543498 voip Sat, 22 Nov 2008 17:53:49 +0000 http://www.techcrunch.com/?p=29773#comment-2543498 If so SEC should make it a rule that employee shareholders are exempted from this rule for every other company, then there will be quite a few companies emerged, if not prior existed, I see no reason why not to hold the rule straight - you can't play by the rules if the rules can change during the play. If so SEC should make it a rule that employee shareholders are exempted from this rule for every other company, then there will be quite a few companies emerged, if not prior existed, I see no reason why not to hold the rule straight – you can’t play by the rules if the rules can change during the play.

]]> By: Thomas Schulze http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543269 Thomas Schulze Sat, 22 Nov 2008 09:54:02 +0000 http://www.techcrunch.com/?p=29773#comment-2543269 that's just one step closer to NASDAQ! Markets will turn bullish with all that liquidity - fb will Ipo - the fun about it - all their users might buy shares - easy placement! http://www.xing.com and http://www.spirofrog.de did the same and spread their shares firstly to their users! that’s just one step closer to NASDAQ!
Markets will turn bullish with all that liquidity – fb will Ipo – the fun about it – all their users might buy shares – easy placement! http://www.xing.com and http://www.spirofrog.de did the same and spread their shares firstly to their users!

]]> By: Free Movies & TV Episodes Online http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543164 Free Movies & TV Episodes Online Sat, 22 Nov 2008 06:37:32 +0000 http://www.techcrunch.com/?p=29773#comment-2543164 Easy to do when everyone knows your name. Easy to do when everyone knows your name.

]]> By: Darren http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543070 Darren Sat, 22 Nov 2008 03:48:59 +0000 http://www.techcrunch.com/?p=29773#comment-2543070 Well written by chief counsel Well written by chief counsel

]]> By: Marc http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543035 Marc Sat, 22 Nov 2008 02:52:49 +0000 http://www.techcrunch.com/?p=29773#comment-2543035 One other thing to take note of. There are going to be big changes at the SEC. In fact it might become part of a new agency altogether. The direction we're heading in is definitely more transparency and more regulation. So who knows, their may be stricter disclosure rules going into effect next year. One other thing to take note of. There are going to be big changes at the SEC. In fact it might become part of a new agency altogether. The direction we’re heading in is definitely more transparency and more regulation. So who knows, their may be stricter disclosure rules going into effect next year.

]]> By: Marc http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2543032 Marc Sat, 22 Nov 2008 02:48:56 +0000 http://www.techcrunch.com/?p=29773#comment-2543032 No you're wrong. It's not just the number of shareholders. The big difference is who they are. I'm sure it would have been a different outcome if they'd have had 500 VC investors. Reporting becomes much more of an issue in that situation. I'm sure more shares will change hands to outside investors and Facebook will have their hand forced. Once that happens, shareholders will be in for a big disappointment in realizing that FB brings in a lot less revenue than what they were led to believe through rumor and innuendo. No you’re wrong. It’s not just the number of shareholders. The big difference is who they are. I’m sure it would have been a different outcome if they’d have had 500 VC investors. Reporting becomes much more of an issue in that situation. I’m sure more shares will change hands to outside investors and Facebook will have their hand forced. Once that happens, shareholders will be in for a big disappointment in realizing that FB brings in a lot less revenue than what they were led to believe through rumor and innuendo.

]]> By: SEC Gives Facebook The Greenlight To Go Beyond 500 Shareholders Without Going Public | Tech News - Business News And Social Networking http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542871 SEC Gives Facebook The Greenlight To Go Beyond 500 Shareholders Without Going Public | Tech News - Business News And Social Networking Fri, 21 Nov 2008 22:47:31 +0000 http://www.techcrunch.com/?p=29773#comment-2542871 [...] Techcrunch [...] [...] Techcrunch [...]

]]> By: Bruce http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542821 Bruce Fri, 21 Nov 2008 21:44:49 +0000 http://www.techcrunch.com/?p=29773#comment-2542821 There's a difference between going public and being a public company. In the eyes of the SEC, when you exceed 500 shareholders, you are a public company. Your reporting is more extensive and detailed. This does not mean you are a publicly trading company. Trading on Nasdaq, NYSE, Dow Jones, or the many trading companies is a whole different aspect. There’s a difference between going public and being a public company. In the eyes of the SEC, when you exceed 500 shareholders, you are a public company. Your reporting is more extensive and detailed. This does not mean you are a publicly trading company. Trading on Nasdaq, NYSE, Dow Jones, or the many trading companies is a whole different aspect.

]]> By: Mark http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542811 Mark Fri, 21 Nov 2008 21:33:16 +0000 http://www.techcrunch.com/?p=29773#comment-2542811 They won't bother with an IPO until the market is ready for it. They don't need the capital at this point. They have positioned themselves to a point where they can hold out with private equity until the market is ripe. An IPO will merely be a formality in the road to battling against the big players which FB is on its way to doing. On the SEC rule, it's almost an administrative item that most companies can get around nowadays. The SEC is beginning to realize that a private company exceeding 500 shareholders is not uncommon with new fund structures, the higher number of tech angel investors and micro VC's. Many of your largest tech VC's actually invest independently, even if they're associated with a fund. So, it's not too surprising, IMHO. They won’t bother with an IPO until the market is ready for it. They don’t need the capital at this point. They have positioned themselves to a point where they can hold out with private equity until the market is ripe. An IPO will merely be a formality in the road to battling against the big players which FB is on its way to doing.

On the SEC rule, it’s almost an administrative item that most companies can get around nowadays. The SEC is beginning to realize that a private company exceeding 500 shareholders is not uncommon with new fund structures, the higher number of tech angel investors and micro VC’s. Many of your largest tech VC’s actually invest independently, even if they’re associated with a fund. So, it’s not too surprising, IMHO.

]]> By: Michael http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542798 Michael Fri, 21 Nov 2008 21:11:48 +0000 http://www.techcrunch.com/?p=29773#comment-2542798 What if Facebook, along with some others, had gone public????? http://pedatacenter.com/pedc/blog/view/27 What if Facebook, along with some others, had gone public?????

http://pedatace...dc/blog/view/27

]]> By: Lord Matt http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542797 Lord Matt Fri, 21 Nov 2008 21:11:15 +0000 http://www.techcrunch.com/?p=29773#comment-2542797 They get 500! No fair, my Limited gets just 50. The difference between UK and US I guess. They get 500! No fair, my Limited gets just 50. The difference between UK and US I guess.

]]> By: MikeT http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542793 MikeT Fri, 21 Nov 2008 21:09:24 +0000 http://www.techcrunch.com/?p=29773#comment-2542793 These guys keep doing things the right way. Amazing! From my research - it is so easy and convenient to do advertising on FB and so cumbersome on other sites, so guess where I am inclined to put my ads and who I am happy to pay? ;) Mike http://realstoriz.com These guys keep doing things the right way. Amazing!
From my research – it is so easy and convenient to do advertising on FB and so cumbersome on other sites, so guess where I am inclined to put my ads and who I am happy to pay? ;)

Mike
http://realstoriz.com

]]> By: DashGo http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542783 DashGo Fri, 21 Nov 2008 20:58:36 +0000 http://www.techcrunch.com/?p=29773#comment-2542783 With investor + consumer trust collapsing along with the economy, this seems like a horrible SEC decision. Granted many of the stockholders may be employees, but how many Enron and Lehman Bros. holders were employees as well? To shield a company worth billions on paper from disclosing performance and financial health (good or bad) from a large group of shareholders who have deferred compensation for those shares seems irresponsible and completely ignorant of the current economic state. With investor + consumer trust collapsing along with the economy, this seems like a horrible SEC decision. Granted many of the stockholders may be employees, but how many Enron and Lehman Bros. holders were employees as well? To shield a company worth billions on paper from disclosing performance and financial health (good or bad) from a large group of shareholders who have deferred compensation for those shares seems irresponsible and completely ignorant of the current economic state.

]]> By: Peter Epstein http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542758 Peter Epstein Fri, 21 Nov 2008 20:16:03 +0000 http://www.techcrunch.com/?p=29773#comment-2542758 Facebook will announce that it's going public by middle of next year. Peter www.thewebwar.com Facebook will announce that it’s going public by middle of next year.

Peter
http://www.thewebwar.com

]]> By: Ben Fremer http://www.techcrunch.com/2008/11/21/sec-gives-facebook-the-greenlight-to-go-beyond-500-shareholders-without-going-public/comment-page-1/#comment-2542748 Ben Fremer Fri, 21 Nov 2008 20:05:36 +0000 http://www.techcrunch.com/?p=29773#comment-2542748 I wonder if they would do the same if Facebook weren't a household name consumer brand. Is it really ok for the SEC to ignore enforcing a law like this any more than it is for a police station to selectively not enforce laws on its friends or other politically powerful people? I wonder if they would do the same if Facebook weren’t a household name consumer brand.

Is it really ok for the SEC to ignore enforcing a law like this any more than it is for a police station to selectively not enforce laws on its friends or other politically powerful people?

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