The Yahoo! acquisition that never happened
In the summer of 2006, Zuckerberg reportedly agreed to a $1 billion acquisition from Yahoo. Shortly afterward, Yahoo reported disappointing quarterly sales and earnings, and delayed the launch of a new digital advertising project. The result was a 22% overnight drop in stock price. Part of the fallout included reducing the offer for Facebook to $800 million. Zuckerberg rejected the offer and called off the deal in September 2006, even holding steady when Yahoo CEO Terry Semel came back with another $1 billion offer two months later.