Herea4‚¬a4„s a fun sidenote to Goldman Sachsa4‚¬a4„ investment into Facebook: The social networking companya4‚¬a4„s chief financial officer David Ebersman demonstrated Facebook yesterday to Goldman employees, according to Bloomberg.
Specifically, Ebersman walked Goldmana4‚¬a4„s private wealth-management team through how the site works and gave them pointers on how to explain Facebook to older clients. He was speaking in the firm&'s San Francisco office, but his presentation was transmitted to other Goldman offices.
The news made me smile because, even though Goldman has reportedly invested $450 million in Facebook and plans to allow clients to invest $1.5 billion more, the firm&'s employees normally cana4‚¬a4„t access Facebook in the office (as other articles have pointed out).
Of course, Goldman presumably had access to Facebooka4‚¬a4„s financial details, which, if you&'re going to invest hundreds of millions of dollars at a $50 billion valuation, are much more important than opening a Facebook account. As Facebook moves towards the initial public offering thata4‚¬a4„s expected in 2012, it will probably have to win over many more Wall Street types who dona4‚¬a4„t use the site themselves.
Neither Facebook nor Goldman has confirmed the deal yet.
The attention paid to Goldmana4‚¬a4„s Facebook access kind of reminds me of the fuss over the fact that Aaron Sorkin didna4‚¬a4„t join Facebook until hea4‚¬a4„d signed up to write the movie that became The Social Network. And hey, he wrote a great movie that might win him an Academy Award. It just didna4‚¬a4„t have anything to do with how Facebook works.
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Companies: Facebook, Goldman Sachs
People: David Ebersman
Companies: Facebook, Goldman Sachs
People: David Ebersman
Anthony is a senior editor at VentureBeat, as well as its reporter on media, advertising, and social networks. Before joining the site in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. (All story pitches should also be sent to tips@venturebeat.com) You can also follow Anthony on Twitter.
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