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Rumor from the news doldrums of August: Mormon church trying to buy Facebook [Updated]

Eric Eldon, VentureBeat08.20.2008
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Updated

Yeah. I know. It’s a slow day today. Anyway, The Church of Jesus Christ of Latter Day Saints — a nonprofit religious organization that may have up to $30 billion in wide-ranging assets — is trying to buy Facebook. That’s what Zach Klein, the co-founder of video site Vimeo, now employed at comedy site CollegeHumor, is hearing from within the company.

Klein has friends in and close to Facebook. Also, another Tumblr-using entrepreneur named Brady Brim-DeForest claims to hear similar things (and made the nice graphic, above, to go with his post).

[Update: Brim-DeForest says an LDS spokesperson has gotten back to say that the rumor is completely unfounded. Also, see my responses to commenters, below.]

Maybe there’s a grain of truth here?

Here’s my bet on what that grain is, assuming this isn’t a joke or somebody being drunk. Current and former Facebook employees are now allowed to sell stock. Why wouldn’t some part of the Church try to buy some part of Facebook?

Reprinted with permission from VentureBeat. Story copyright 2008 VentureBeat Inc. All rights reserved.

Comments

This rumor has no foundation whatsoever.

Lyman Kirkland
Public Affairs
The Church of Jesus Christ of Latter-day Saints


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