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.