Confirmed: Facebook Loses CFO Gideon Yu

Facebook is losing its CFO Gideon Yu. The #-Link-Snipped-# broke the news earlier today, and speculated that the reason could be that Facebook might want to make an early bid for an IPO and wants a CFO with public company experience (which is complete nonsense). Yu was previously the CFO of YouTube. At Facebook, he was key to raising money from Microsoft at the famous $15 billion valuation, but as the economy soured he was not able to find as many takers at that same price, despite Facebook's voracious need for capital to keep up with its growth. A Facebook spokesperson has confirmed Yu's departure to us, providing the following statement.

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