Mark Zuckerberg is ''Quite Sure'' He Didn't Sign Away 84% of Facebook

Last week news emerged that a web designer by the name of Paul D. Cegli had filed a lawsuit against Facebook, claiming he owned a majority stake in the company. Cegli said he entered into a contract with Mark Zuckerberg in 2003, promising to design a website for the Facebook CEO. The contract stipulated that Cegli would design a site and pay Zuckerberg $1,000, and in return, he would receive a 50 percent stake in Facebook. The contract also states that Cegli would receive an additional 1 percent stake every day until thefacebook.com went live. All told, the suit alleges Cegli owns all but 16 percent of the social network.

A Facebook attorney made headlines yesterday when she said that Zuckerberg had done some contract work for Ceglia, but admitted she "wasn't sure" if Mark had signed the contract shown in court. Last night, Mark Zuckerberg told ABC's Diane Sawyer that he is quite sure he never signed the contract and says his lawyer's comment was probably taken out of context.

"If we said that we were unsure, that was likely taken out of context, because I think we were quite sure that we did not sign a contract that says they have any right to ownership over Facebook," PC Mag cites Zuckerberg as saying in the interview.

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  • Usually that statement "Quite sure" Follows after a night of drinking.
    29
  • Only thing more boring than reading news about Zuckerberg is the fact that they are making a movie about him & the origins of Facebook.
    27
  • The other article I read said that Ceglia paid Zuckerberg $1000 to create thefacebook.com. Ceglia owns a car dealership or something and was also trying to reach out into social networking (investment opportunities I guess). The initial contract was that Ceglia would maintain 50% ownership, and Zuckerberg would lose 1% for every day the project was late. Basically, Ceglia was an initial investor into thefacebook, which Zuckerberg later transitioned the idea to plain-old facebook. That's how I understand the situation.

    If this man initially paid Zucks $1000 for 50% of facebook, that's where it stands. If this guy wins, all of facebook's subsequent investors are going to have a nice lawsuit to file against Zuckerberg.

    Face it, Zuckerberg's a tool. He probably thought he could get out of the deal by moving to a different domain name. The guy has shown over and over that he has no idea how to run a company.
    10
  • Other Comments
  • Usually that statement "Quite sure" Follows after a night of drinking.
    29
  • RIDICULOUS!
    -5
  • Only thing more boring than reading news about Zuckerberg is the fact that they are making a movie about him & the origins of Facebook.
    27