According to some sources, the term sheet, which was based on board of directors’ seat requirement and it wasn’t based on some valuation.

Mark Zuckerberg, Facebook founder says that they have three common seats for stock board and one out these three is still empty while the rest of two are occupied by him and the other by Marc Andreessen.

Two other preferred stock board seats are held by Jim Breyer and Peter Thiel. Zuckerberg is looking for retaining control of board of directors’ seat.

The company is also going to pitch some financial projections that you have heard previously. The revenue number that was leaked out from the company previously was around $400 million, but now according to some investors it is being expected by the company that their revenue would be around $400m during this year.

It’s, indeed, a considerable increase in the company’s revenue and things are becoming quite impressive when it’s about revenue of the firm. It is being also expected that it would stretch even from this and according to some it is somewhat unrealistic.

The last round valuation of the company was around $15b, but now it seems somewhat far off thing.

Source: TechCrunch