Wednesday, January 2

FaceBook says thanks.

Before I tell you something about the company behind FaceBook, it will be useful to know something about FaceBook, the fastest growing social networking web site.

This website boasts of 59 million users currently and there is already a rumor that Microsoft is salivating even while thinking about acquiring it. Hey, this is just news that I read somewhere in the web, so don't take it seriously.

Now about the investing company:
The man behind the scene of FaceBook is Mr. Peter Thiel and he is reported to be the owner of
Founders Fund, a venture capital organization.

He first laid down $500K for this project. I think that has increased to 50 times in value on paper.

He was formerly the CEO of PayPal Inc.

Ack: WSJ

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