I’m guessing that you’ll be reading this in 20 places tomorrow but I figured that I’d link to the article and let you read it for yourself. AP was able to find all of the details of the ConnectU settlement through “copying [the blacked-out portions of the ConnectU hearing] from an electronic version of the document and pasting the results into another document.” Adobe seriously needs to get their team on this (if this was in fact from a PDF).
As I recall, this isn’t the first time that mysterious data has appeared in a document as blacked out yet copying and pasting revealed information (I recall a secret Google or Facebook presentation revealed hidden information through copy and paste). Anyways, the juiciest details of the article was the details of the ConnectU settlement which was buzzed about yesterday:
Under their settlement, Facebook agreed to pay ConnectU $20 million in cash and 1,253,326 shares of common stock. The stock was worth $45 million, based on the Microsoft valuation, but only $11 million under Facebook’s own appraisal.
That’s why the Winklevoss brothers weren’t too happy once they found out that the math didn’t add up. The numbers also suggest a Facebook valuation of $3.7 billion. That’s not far off the $4 billion valuation that private traders have been purchasing inside stock for.