Subba’s Serendipitous moments

April 1, 2009

Gideon Yu — the Facebook CFO quits suddenly!

A veteran CFO of one of the hottest companies at a critical juncture quits. Such abrupt high level departures at a critical stage indicates more things than it meets the eye.

Mr. Gideon Yu is a star CFO with stints in Google, YouTube and Yahoo and was responsible for raising capital, which Facebook needs as I wrote here.

I guess his leaving has something to do with the fund raising as the latest news in NY times seems to indicate.

The quote by the Facebook spokesman is classic PR speak: “Gideon Yu, said the company did not need to raise more cash to get to profitability but would entertain the idea. “It’s all going to be a function of valuation and a valuation we are happy with,” he said.

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2 Comments »

  1. just a bit correction:
    i think the last comment was misquoted …. the press articles attributed that to Larry Yu (not related to Gideon).

    I’m not sure whether to believe Facebook’s story explaining Gideon leave the company. Any possibilities that he came across something which not in alignment with what the Facebook mgmt wants the whole world to know. Considering the pressures to prove the social media/ network business model (as also pointed out in your other post) I will not be surprised if he smelled something.

    Comment by Krishna Baidya — April 2, 2009 @ 2:37 pm | Reply

  2. Just saw that Spencer Ante in his article “Facebook’s CFO Exits: Enter, the Questions” for BusinessWeek too asked the very same question. It also pointed out unusual trend of highly talented executives parting ways.

    “Over the last two years, Facebook has lost a number of talented executives, an unusual trend for such a hot startup. Among those who have left are Matt Cohler, vice-president of product management; Dustin Moskovitz and Chris Hughes, co-founders; Adam D’Angelo, chief technology officer; Owen Van Natta, chief operating officer; Jeff Hammerbacher, engineering manager; and Benjamin Ling, platform director.”

    Comment by Krishna Baidya — April 2, 2009 @ 2:48 pm | Reply


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