Facebook is losing its CFO Gideon Yu. The Wall Street Journal broke the news earlier today, and speculated that the reason could be that Facebook might want to make an early bid for an IPO and wants a CFO with public company experience (which is complete nonsense). Yu was previously the CFO of YouTube. At Facebook, he was key to raising money from Microsoft at the famous $15 billion valuation, but as the economy soured he was not able to find as many takers at that same price, despite... Read Full Story
SAN FRANCISCO (Reuters) - Internet social network powerhouse Facebook has hired the former chief financial officer of Genentech as its CFO, filing a spot that has been empty for about three months. Facebook said on Monday that David Ebersman will join the company in September. Ebersman served as CFO of Genentech from 2006 until April this year, when the biotech company was acquired by Roche Holding. "His success in scaling the finance organization of a fast-growing company will be important... Read Full Story
David Ebersman, a former executive at biotech firm Genentech, was named Monday as Facebook's chief financial officer. Ebersman, 39, will formally start at the Palo Alto, Calif.-based online hangout in September. He replaces Gideon Yu, who left abruptly in March. Facebook said at the time it was looking for someone with "public company experience," even though Yu had previously worked at Yahoo Inc. — which is public. Ebersman hails from Genentech, which has been sold to pharmaceutical company... Read Full Story
Facebook will soon have its third chief financial officer in less than two years, the company announced today via a leak to the Wall Street Journal. Gideon Yu , the man who came back from Dubai empty handed , is out . The hunt for his successor is starting now.
Facebook says this is about getting a CFO with public company experience ( “We have retained Spencer Stuart to lead our search for a new CFO and will be looking for someone with public company experience.” ). Which is complete... Read Full Story
About six months ago, critics pummeled Facebook founder and CEO Mark Zuckerberg.
He’d made questionable management decisions, or so it appeared from the outside. He’d fumbled the site’s redesign and botched the company’s terms of service agreement — moves that whipped up negative publicity and user backlash. Some people asked whether it was time for Zuckerberg to go .
Six months later, those critics have gone. The company has enjoyed astounding momentum — blowing through user growth... Read Full Story
Gideon Yu, former CFO of Facebook. Gideon Yu, the Chief Financial Officer who raised nearly $500 million for the booming social network, is resigning from the company. Yu, who came on board in September of 2007, will be moving on to greener pastures as Facebook continues to struggle to crack the sercret of monetizing it's huge traffic. From a post about the ouster at Valleywag: One by one, Facebook CEO Mark Zuckerberg has driven away his cofounders and close confidants. The latest to go... Read Full Story
Gideon Yu , the former Facebook CFO unceremoniously shown the door in late March, has joined Khosla Ventures as a General Partner, we’ve heard from multiple sources.
Prior to Facebook, Yu has held positions at Yahoo (SVP Finance), YouTube (CFO) and, most recently, a short stint as a partner at Sequoia Capital. He is credited with being one of the main architects of the landmark $1.65 billion Google acquisition of YouTube in 2006.
Khosla Ventures has been in the news recently - they are... Read Full Story
Back in March, when former Facebook CFO Gideon Yu left the company , The Wall Street Journal reported that the social network was looking for someone with “public company experience.”
Today, Facebook has certainly found its man. The company has hired David Ebersman, who is the former CFO of Genentech. That company – a biotechnology giant – was acquired by Roche for $46.8 billion earlier this year.
In a statement, Facebook founder and CEO Mark Zuckerberg said:
“We received a lot of... Read Full Story
Facebook chief financial officer Gideon Yu left the company this spring, in somewhat strange circumstances , with Facebook saying it wanted a CFO with public company experience. Now it has one: former Genentech CFO David Ebersman.
While Ebersman worked at biotechnology company Genentech for 15 years, his experience was on the business side. He rose through the ranks as a business analyst and product manager before becoming chief financial officer in 2006 through its sale to Roche this past... Read Full Story
Facebook has named former Genentech executive David Ebersman to the office of chief financial officer. He replaces Gideon Yu, whose departure was announced at the end of March .
"We received a lot of interest in the CFO position and had the opportunity to meet with many impressive candidates," said Facebook CEO Mark Zuckerberg. "We quickly recognized that David was the right person for Facebook. He was Genentech's CFO while revenue tripled, and his success in scaling the finance... Read Full Story
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