Facebook picked a new CFO quietly, after its cloddish public parting with longtime top financial exec Gideon Yu earlier this year.

Facebook said in late March it was looking for a CFO with “public company experience,” and it seems to have gotten one in former Genentech CFO David Ebersman.

(He is pictured here–is it just me or does he look a lot like an older version of the man he will be reporting to, Facebook CEO and founder Mark Zuckerberg?)

It’s an interesting choice of a high-profile exec for the job at the headed-for-an-IPO-someday social-networking company, and one from outside the Web sector.

And, indeed, with the addition of Ebersman, Facebook inches ever closer to a public offering.

It is also a good move for Ebersman, who has been at the biotech firm for almost 15 years. But the South San Francisco-based Genentech was acquired in March by Hoffman-La Roche, which already has a CFO.

Ebersman, who will formally start in September, will oversee Facebook’s finance, accounting, investor relations and real estate functions and will also be part of the Palo Alto, Calif., company’s executive management team.

Former Netscape exec and VC Peter Currie has served as a stand-in for Yu since he left, although has not been an active financial exec.

Here is the full press release from Facebook:

PALO ALTO, Calif.–June 29, 2009–Facebook today announced that David Ebersman, the former executive vice president and chief financial officer (CFO) of Genentech, the pioneering biotechnology firm recently acquired by Roche, will become the company’s chief financial officer.

Ebersman will report to Chief Executive Officer (CEO) and Founder Mark Zuckerberg. He will oversee Facebook’s finance, accounting, investor relations, and real estate functions. He also becomes a part of the company’s executive management team, which directs all aspects of company strategy, planning and operations. Ebersman will formally start in September 2009.

“We received a lot of interest in the CFO position and had the opportunity to meet with many impressive candidates,” said Mark Zuckerberg. “We quickly recognized that David was the right person for Facebook. He was Genentech’s CFO while revenue tripled, and his success in scaling the finance organization of a fast growing company will be important to Facebook.”

“After meeting with Mark and the rest of the team, I was thoroughly impressed with everyone’s drive and sense of purpose to help people connect and share,“ noted Ebersman. “Mark is constantly pushing the company forward and he’s assembled a world-class team that is achieving remarkable results both for its users and as a business. I’m excited to join this effort and this new industry.”

Ebersman worked at Genentech for nearly 15 years. He served as the firm’s executive vice president and CFO from 2006 through April 2009, when Roche Group acquired the company. Prior to joining the company’s finance organization, he was senior vice president of Product Operations. He joined Genentech as a business development analyst. Previously, he was a research analyst at Oppenheimer & Company Inc.

This weekend on Twitter, someone paid BoomTown a compliment of a sort: “I read you because you are a solid fact-based reporter with a Miss Cleo intuition “

Yipes, because of being fact-based, I had to point out that the well-known-via-infomercials Psychic Friends Network shaman turned out to be a bit of a fraud, although she’s always entertaining, with her jaunty Jamaican accent (she was not, of course, from there).

Nonetheless, it got me thinking about how I would predict what would result from all the deal-making that is suddenly in the air, after six months of ennui from the current economic downturn.

While Silicon Valley has been less impacted than, say, New York, things have certainly been tightening up here, with layoffs at big companies and small ones and less frenetic activity than one had come to expect from Web 2.0.

But last week, the pulse seemed to quicken a little with the various rumors that have swirled around Twitter, the variety of controversies around Facebook and the nascent chit-chatting now taking place between Yahoo (YHOO) and Microsoft (MSFT).

Thus, with a third eye to the future, here’s my take on what could happen. Big caveat, though: Much of what follows is all my speculation and analysis and not based on any psychic feelings.

TWITTER TWADDLE

Last week, I did a rather long reported post on what was going on after rumors broke out that Twitter was in “late-stage” acquisition negotiations with Google (GOOG).

While an imminent deal was not pending two weeks ago, I wrote that Twitter was indeed the apple of Google’s eye at the moment–specifically and now more so than ever, many sources tell me, of its Search Product VP Marissa Mayer–for some kind of search deal that could eventually lead to an acquisition.

But I also noted that Microsoft was also in the picture, vying for Twitter’s affections, and I doubted that Microsoft and Google would be the only ones interested in the hot-as-July-in-Alabama microblogging start-up.

Here’s the plus for Twitter: It’s on a hype rocket ship, its growth is also accelerating and it does not need money, since it just got a big slug of venture funding.

And that’s also a minus and why I also predict that there are only two outcomes: a sale very soon or a major investment by one of its suitors.

While I would love for its founders, including Biz Stone and CEO Evan Williams, to stick to their claims of remaining a “strong, profitable, independent company,” a cash offer of over $500 million or a cash-and-stock offer of slightly more will probably be enough to take them off the table, mostly because the getting might never get this good again.

That offer is most likely to come from Google, if I had to make a bet, which is well known for moving quickly when it sees a tasty treat it desires.

That’s a shame, since once the start-up actually does enter these kinds of “late-stage” talks for real, some deserved shine will come right off Twitter’s cute little MINI convertible of a company.

Instead, Twitter might want to take a page from Facebook and let itself grow its own as it explores revenue options, while perhaps taking a large investment and striking a significant commercial deal with a strategic partner like Google or Microsoft.

Then, with a modicum of independence and the possibility of acquisition if it turned out it needed help, Twitter could forge its own destiny.

And wouldn’t that be nice if Google or Microsoft didn’t just gobble up every innovative thing they cannot seem to think of on their own?

FACEBOOK FOLLIES

I will be reporting more very soon on what’s been going on as the powerful social-networking site deals with its fast-growing pains–up to 200 million users now, which is about as impressive at it gets in the Internet space.

Not so impressive is the variety of high-profile management mishaps that have plagued the company of late–from its Terms of Service debacle to its redesign rough road to the way Facebook recently parted with CFO GIdeon Yu.

To say Facebook treated Yu–a well-regarded figure in the tech sector, who had also raised an awful lot of funding for the start-up–with very little of the kind of grace he deserved and that it should have displayed is an understatement.

In the creation of a significant start-up, tensions inevitably flare and there is typically a lot of management turnover, which is natural, for a variety of reasons on all sides.

Why Facebook had to insecurely tout its stable financial state while backhandedly slapping Yu by saying it was in a search for a CFO with “public company experience”–Yu had enough public company experience to make that deeply insulting–was unclear, when it simply could have said he was moving on in the way most such partings are done.

The conflict between its public statement and an internal memo I obtained on Yu’s departure underscored the problem.

Insecure and way too focused on optics is probably an issue Facebook will have to deal with as it moves toward what the company hopes will be in IPO in 2010 or 2011. Rather than all the noise, its only goal should be shaping up its revenue and profit performance and, hopefully, building a cohesive management.

But does that mean current CEO and founder Mark Zuckerberg will have to eventually step aside before a public offering and make way for a more experienced CEO type, as Google co-founders Sergey Brin and Larry Page did for Eric Schmidt, as some have suggested?

I predict not. Because, for all his careening from crisis to crisis of late, I have no question that Zuckerberg–who has fended off big-money acquisition attempts by big players with a cool-cucumberness that Twitter’s execs should study carefully–has every intention of riding Facebook to the very top–or even bottom.

Clearly modeling himself as a modern-day Steve Jobs (who was fired before triumphantly returning) or Bill Gates (a better comparison), Zuckerberg is a visionary techie who wants to style himself as a crack businessman too.

And with a lot of control over the fate of Facebook, he’s going to see his vision of Facebook and himself out.

THE ODD COUPLE

Can two divorced men share an apartment without driving each other crazy?

Oops, I mean can two once-bickering-over-a-hostile-takeover companies start talking without driving each other crazy?

Last week, the news, first reported here Friday, that Yahoo was involved in preliminary talks with Microsoft about an extensive commercial advertising and search partnership–should have come as no surprise.

After all, Yahoo and Microsoft are laggards in the lucrative search space, especially compared to the dominant Google, and they must somehow find a way to get along to get some traction in the marketplace.

But will they or will it be all Felix Unger and Oscar Madison battling until the end of time? While I loved that television show, and movie too, the Yahoo-Microsoft version is not riveting anymore to some.

“I am so bored with their not-coming-to-a-deal,” said one prominent exec, who was involved in the first go-round between the companies. “They need to make a deal, and if they don’t make a deal now, I will be both bored and in shock.”

That made me laugh out loud when I heard it. But it’s not funny, I know, because this is serious stuff!

Okay, then, seriously, this pair needs to come to some sort of partnership agreement like Miss Cleo needs a new reputation.

And, because I am a hopeful psychic, I predict they finally will, dropping all the emotion and history and realizing that they are wasting time and opportunity.

After all, while the future isn’t written, it can–a lot of the time–be both inevitable and utterly obvious.

Speaking of obviously (bogus), here is a video of Miss Cleo’s famous commercial:

Please see this disclosure related to me and Google.

BoomTown is not going to go all servers and Solaris on you, as I am leaving the complicated details of the collapsed IBM (IBM) bid for Sun Microsystems (JAVA) to Digital Daily’s John Paczkowski to sort out.

But perhaps the best headline and first sentence of the plethora of stories about the $7 billion buyout debacle, which seems sure to get horribly messy now, is from Andy Greenberg of Forbes.com:

The headline: “Sun May Be Pulling A Yahoo!”

And lede: “Sun Microsystems is facing its Jerry Yang moment.”

I wonder if every failed tech merger with a squabblefest and a board in chaos will now be accused of blowing it, as most think the Yahoo (YHOO) co-founder and former CEO Yang did in rejecting the $41 billion offer from Microsoft (MSFT).

In an interesting aside, speaking of the chaotic Sun board, one of its members is none other than Peter Currie.

Currie (pictured here) just inherited another potential mess over at Facebook, when he agreed to step in to take over as a financial adviser to the social-networking site, which abruptly replaced CFO Gideon Yu last week.

Sounds like Currie, the former Netscape CFO and investor–who knows from unnatural disaster from his long years in Silicon Valley–has his hands full now.

Dear Elliot Schrage:

BoomTown wins.

As Sheryl knows from experience, don’t mess with the Swish. Or Texas. Or Zohan.

Just don’t mess.

For everyone else, here is the entire memo that Facebook sent out this week from CEO and founder Mark Zuckerberg to its 800-person staff about the departure of CFO Gideon Yu and the financial status of the Silicon Valley social-networking start-up, which some had been questioning.

According to the memo, there is a company Q&A tomorrow about it all too! What should I wear?

UPDATE:In a version of the memo I first posted, there was a repeated paragraph, with slight differences. This might have been a software error–several versions I got of this entire memo had different punctuation in various places.

In any case, I eliminated the extra repeated graph and I changed one part below of “we are” to “Facebook is” in brackets.

COMPANY CONFIDENTIAL–DO NOT FORWARD

Hey Everyone–

Today ends the first quarter of 2009, so I wanted to send out an update on our growth and financial progress, as well as a couple of changes we are making.

Our user growth has been extraordinary over the past year and has continued to be strong throughout Q1. We are getting very close to reaching our 200 millionth active user. This is pretty remarkable considering we just reached 100 million actives a little more than seven months ago. We have become the top site for sharing information on the web, and this gives us a good strategic position to help people share even more.

I am also pleased that our financial progress has been very strong as well. While we came into this year wondering how the recession might affect us, our financial performance in the first quarter surpassed our expectations. As other businesses around us are slowing down and cutting back, we continue to grow around the world. Our advertising products are becoming more attractive for advertisers and we have seen strong growth in both our domestic and international direct sales and online sales channels.

Even in the current economic environment, we are confident that this success will continue. Based on our first quarter results, we now believe we are on track to see our revenue grow by at least 70% this year. We just completed our fifth straight quarter of EBITDA profitability. And most importantly, we expect to achieve free cash flow profitability next year. That’s an important measure of financial success and sustainability because it means we’d be able to fund all of our operations and server purchases from the cash we generate while increasing our cash reserves in the bank. Hitting these numbers will require continued hard work, discipline and execution by everyone here at Facebook, but we are on the path to achieve these goals.

As we ramp up to take on these challenges, I want to let you know that Gideon Yu will be leaving the company. Gideon has played an important role in helping us achieve our financial success, building a strong finance team and establishing the core financial operations of our company. I will always be grateful to Gideon for his contributions to Facebook and what we are trying to accomplish. As those of you who know him know, Gideon’s family is his highest priority and it’s certainly not the usual cliché to say that he plans to take some time off to be with his wife and son. Gideon and I have often discussed that the next stage of his career will likely be as an investor, and I fully support him in this regard.

We have retained Spencer Stuart to search for a new CFO and we will be looking for someone with public company experience who can help take us to the next stage in our growth.

In the interim, the finance team will report to Cipora Herman in her capacity as Treasurer and Ted Ullyot as mteam lead. In addition, [Facebook is] fortunate that Peter Currie, the former CFO for Netscape, has agreed to serve as the advisor to Facebook until a new CFO comes on board.

As always, please feel free to reach out to me or to others on mteam if you have any questions about our finance plans or organization. I’ll discuss this more at the Q&A on Friday and I will be happy to take questions then too.

Congratulations to everyone on a great start to the year and on all the momentum you have all helped build for the rest of 2009.

Mark

Back in the heyday, Peter Currie was the money man to see in Silicon Valley.

As CFO of Netscape Communications, he led the start-up into history, as the first great Internet rocket ship, when it went public on Aug. 9, 1995.

With the first consumer-friendly browser software, which made the Web easily understandable to the masses, Netscape was at the red-hot center of the nascent digital revolution.

“Wall Street went bonkers,” said one news reporter about the IPO, and the craziness did not stop for quite a while.

Rising to insane levels, the stock was ground zero of the Internet gold rush too, despite the fact that it had no profits to speak of.

But it did have a 23-year-old co-founder and tech wunderkind in Marc Andreessen, and a growth trajectory that was astounding.

If you think it sounds somewhat similar to Facebook today–where Currie will now help out as temporary financial adviser after the social-networking site parted ways with its CFO, Gideon Yu, yesterday, following mutual disagreements and announced a search for a replacement–you are correct.

In that job, the 53-year-old Currie will be helping Facebook CEO and founder Mark Zuckerberg, 24, navigate–albeit temporarily–through some stormy economics seas on a journey that will hopefully end in an initial public offering.

The search for a new CFO will also involve Currie, obviously, and will be conducted by Jim Citrin of Spencer Stuart.

But until a new CFO is in place, Facebook’s quest still entails sorting out a substantive advertising monetization strategy while also keeping up its speedy growth rates and managing the high costs that mount with its popularity.

That certainly was Netscape’s major challenge, which it never met successfully and which was made worse by intense attacks from Microsoft (MSFT) on Netscape’s core browser business.

That eventually led to the antitrust trial against the software giant, even as Netscape saw its star fall dramatically.

It was sold to AOL in 1998 for $4 billion, a shadow of its bubble valuation, and is now more of a footnote than an ongoing tech product (although the now-popular Mozilla browser is a direct descendant of Netscape).

In fact, in 2008, Time Warner (TWX) online unit AOL dropped its support for the Netscape browser and said it was no longer releasing new versions.

Still, a lot of former Netscape execs now hold other key jobs in the Web space.

Its investor relations exec, Quincy Smith, now heads up the digital arm of CBS (CBS), for example.

And Andreessen has started a number of companies and has transformed himself into an kind of elder statesman of Silicon Valley of late, as well as a newly minted venture investor.

Andreessen, many sources said, was a shadow influence on Zuckerberg’s decisions related to Yu, with whom relations had gotten tense, and to bring in Currie (pictured here).

Currie is certainly a great choice, in terms of the close-knit tech sector’s respect and experience.

Currie is also unusually tall, aggressively avuncular and laid-back, loves Elvis and enjoys pranking reporters like BoomTown. (Case in point: He once tried to spread the rumor that I am short due to a medical condition.)

Now the president of Currie Capital, a private investment firm, he had previously worked at General Atlantic in private equity.

After Netscape, he was a partner and co-founder of the Barksdale Group, an early-stage venture capital firm.

Before Netscape, he was CFO of McCaw Cellular Communications and also worked at Morgan Stanley (MS).

Currie is also board-happy, serving as a director of a variety of tech firms, private and public. They have included CNET Networks, Critical Path, Clearwire (CLWR), Safeco, Ofoto, Tellme Networks and Zantaz, as well as Sun Microsystems (JAVA).

He has an MBA from Stanford University and went to Williams College.

Here is the video interview I did with Currie and others at an event to support his friend and former Netscape exec Mike Homer, who recently died of Creutzfeldt-Jakob disease (Currie is at the 2:16-minute mark):

(Image of Netscape IPO T-shirt courtesy of intothefuzz on Flickr.)

In a back-to-the-future move, former Netscape CFO Peter Currie will be the key adviser to Facebook about financial matters, until a new CFO is found, sources said.

The temporary move puts a well-known and well-liked Silicon Valley figure in place at the company at what is surely a tumultuous moment. Currie has most recently been a venture investor.

Today, Facebook parted ways with its CFO, Gideon Yu, saying it was prepping for an eventual IPO.

But others sources at the company said Yu and Facebook CEO and founder Mark Zuckerberg had had intensifying differences in recent weeks over a range of issues.

In Currie, Zuckerberg gets a seasoned tech exec, with deep ties in the sector. He serves on the board of Sun Microsystems (JAVA), one of many such seats he has held at tech companies.

And, perhaps most significant of all, Currie is very close with Facebook board member and Netscape Communications co-founder Marc Andreessen. Sources said Andreessen was also influential in the decision related to Yu leaving his job.

Facebook CFO Gideon Yu (pictured here) is leaving Facebook, as the company announced internally today that it was replacing him and searching for a new CFO on the path to an eventual IPO.

The Wall Street Journal also reported the news, noting that the huge social-networking start-up was looking for a CFO with “public company experience.”

But several sources within the company said the departure was more due to an increasingly strained relationship between Yu and Facebook founder and CEO Mark Zuckerberg over strategic disagreements about a wide range of issues, from increasing advertising revenue to fund-raising discussions with investors.

“At Facebook, you’re either with Mark or you’re not,” said one source at the 800-person company, located in Palo Alto, Calif., and founded five years ago. “And, if you’re not, you leave.”

As a sign of that, Yu was out of the company HQ immediately today after a meeting, said several sources.

Facebook confirmed the move in a statement, focusing instead on its hope for an IPO sometime in the future:

“Facebook confirms that CFO Gideon Yu will be leaving the company. Gideon has played an important role in helping us achieve our financial success, building a strong finance team and establishing the core financial operations of our company. We are grateful to Gideon for his contributions to Facebook and what we are trying to accomplish. Despite the poor economic climate, we are pleased that our financial performance is strong and we are well positioned for the next stage of our growth. We have retained Spencer Stuart to lead our search for a new CFO and will be looking for someone with public company experience.”

In addition, trying to stanch the rumors of its financial weakness and need to raise more funds, Facebook said in its internal memo to staff that it was on the path toward a public offering soon, with revenue growth up 70 percent in 2009 and EBITDA profitability this year, and that it would be cash-flow positive in 2010.

The memo also painted Yu’s departure as another step toward its much anticipated IPO, although it is clearly an ouster of much more complex internal reasons about how Facebook is run.

Facebook has had a lot of those in its short history.

From come-and-then-gone Google tech exec Ben Ling to former COO Owen Van Natta to the pair who started Facebook with Zuckerberg, the fast-growing start-up has seen more executive turnover and turmoil than most big companies.

In fact, Yu–who was an exec at both Yahoo (YHOO) and YouTube and integral to its sale to Google–replaced former CFO Mike Sheridan in 2007, in another case of a key exec being replaced.

Some inside and outside the company were quick to blame COO Sheryl Sandberg for Yu’s departure–probably due to the fact that the pair’s relationship was initially tense when the well-known Google exec arrived a year ago. That has been much less so of late, sources said.

And while Facebook can be a highly political place, with an unusual level of passive-aggressive infighting among execs, it is also a place where Zuckerberg and his wishes firmly hold sway.

And those wishes included the fact that Zuckerberg has long and publicly maintained that Facebook’s growth was paramount over a focus on monetization of the service.

Yu is known internally to be more conservative fiscally, pushing on Zuckerberg to ramp ad revenue more quickly and to consider a range of options outside of IPO, including selling the company.

Many current and former execs had hoped the company would IPO, a process that has been dragged out due to the weaker economy. But–barring that–many had also hoped it would sell to a larger company like Google (GOOG) or Microsoft (MSFT).

In fact, Microsoft has expressed interest in buying Facebook many times, and it was Yu and Van Natta who were key to getting the software giant to outbid Google to invest in the company at an astounding $15 billion valuation.

After raising more than $500 million previously, Yu has more recently been busy working with top execs on the best way to raise more funds for Facebook, in order to allow it grow faster and give it a deeper financial cushion.

High user growth has blown past Facebook’s internal projections, which is both an audience blessing and a cost curse.

But that fund raising has been at a much lower valuation and in a very weak economic climate, adding to stress internally at Facebook, many said.

Yu has held a number of meetings with investors, many of whom have told me they have asked him consistently about the monetization issues at Facebook and exactly when Zuckerberg would turn on the ad spigot at the service.

Yu has also has been involved in some recent debt financing of equipment, which is not as unusual for a fast-growing company as some recent reports have portrayed it, although that might also have been a source of tensions.

How to answer prospective new investors has probably been at the heart of his problems with Zuckerberg, who has been known to run hot and cold on top managers, especially with those who disagree with him too much.

That was clearly the case with Yu.

But, said many execs at the company, Zuckerberg’s conviction that growth is key over all other concerns–about which the company today is taking the edge off by noting sunnier financial results in the internal document–has been the correct one.

Currently, Facebook is veering in on 200 million users, which represents an astounding accomplishment.

But how it is going to take those numbers and make Facebook into a revenue-rich company on par with its increasing power on the Web is the question it will face until, of course, it does.

Besides the current drama over Yu today, Facebook has also recently been embroiled in unhappiness about its recent redesign and separately, about onerous changes to its Terms of Service.

Facebook has since backtracked on both issues, likely adding to the level of pressure on Zuckerberg and top execs.

And that is not even mentioning the curse of the Winklevii–it seems the fun never stops at Facebook HQ!

On an actually more amusing note, I once nicknamed Yu “Death Cat.”

As I wrote in mid-2007:

“Like that cat named Oscar who can detect death, Yu seems to have an amazing ability to get a sweet job at the hot Web company of the moment at just the right time. Case in point: He left Yahoo as its treasurer and went to YouTube as its CFO just a month before it sold to Google for $1.6 billion, a deal in which Yu apparently played a key role. Then, on his way to a spot as a junior partner at also-hot VC firm Sequoia Capital, he grabbed the Facebook CFO job in July. I say we watch where Yu goes and follow stealthily behind so as not to be detected.”

It’s more than likely Yu will pop up again soon in Silicon Valley in another prominent CFO job or as a venture investor. Although, after today’s events, this digital cat has definitely lost one life.

While it is not yet clear exactly what kind of business case study Facebook will turn out to be in the end–a raging success or a raging something else entirely–that has not stopped Harvard from feting the hot and hyped social-networking site.

That would be the Harvard Business School Association of Northern California, which will bestow upon Facebook its 30th Entrepreneurial Company of the Year Award on June 17 at the Hyatt Regency San Francisco Airport.

Apparently, the glamour never stops for CEO and Founder Mark Zuckerberg, who will be at the event, leading the crowd “through Facebook’s remarkable journey.”

Well, that’s all BoomTown needed to hear, immediately ponying up the $225 for a seat for non-members (although we briefly contemplated the $10,000 “Centennial” table for six, which includes a private reception and preferred seating).

While neither Zuckerberg nor I have the fancy degrees–he dropped out of Harvard as an undergrad and I did not have a prayer of getting in in the first place–Facebook’s leadership is chock full of Harvard graduates.

(Much to the chagrin, I might add, of some of Facebook’s less collegiately endowed types, who sometimes grumble to me about the tony school’s influence there, much in the same way some at Google complain about MIT and Stanford.)

In any case, COO Sheryl Sandberg must have scored 800s on her SATs (BoomTown: a decent 720 in English and a less-impressive 640 in math, as near as I can remember)!

According to Facebook’s Web site, she “holds a master’s degree in business administration with highest distinction from the Harvard Business School and a bachelor’s degree summa cum laude in economics from Harvard University.”

Meanwhile, new PR honcho Elliot Schrage “has been a contributor to the Harvard Business Review…holds a bachelors degree from Harvard College, a master’s degree in public policy from the Kennedy School of Government and a J.D. from Harvard Law School.”

And let’s not leave out CFO Gideon Yu, who “holds a master’s degree in business administration from Harvard Business School,” while VP of Product Management Matt Cohler’s “writings on the start-up economy have been published in Harvard Business Review.”

Here’s hoping some of this Harvard brain power rubs off on me over dinner!

And, using any excuse to post two video highlight reels from our recent sixth D: All Things Digital conference, here’s Zuckerberg and Sandberg in action, somehow withstanding my withering questions last week:

Part One

Part Two

And surly, given that we always have a lot to say about Facebook. (OK, OK, one tidbit: Its execs and investors have been disagreeing over how big a new investment to take–the operations folks want more cash and the VCs less dilution.)

That does not mean I do not hope to break news of what Facebook finally manages to decide to do, both with regard to partners and its funding, but that I will bow out of parsing this particular set of deals in excessive detail.

But our ennui got us thinking to back in mid-August, when we did a post making our own Facebook of the top execs there using your basic corporate shots.

So now, before they become all rich and start flying private, we compiled from less corporate pictures we found right on Facebook and the Web–we were going for a more fun Facebook of the players here.

We used all the execs from the last one, but we also added one woman, PR maven Brandee Barker, as well as the three principal VCs.

Co-founder and CEO Mark Zuckerberg in a picture presumably taken at Harvard. He looks so young and naive. Kind of like now.

Zuckerberg best buddy and tech genius Adam D’Angelo (VP and CTO) on a thrilling night at Foo Camp! What could be more fun than an overhead projector and a room full of geeky guys!

Who knew co-founder and VP of Engineering Dustin Moskovitz was such a fox? His future is so bright, he needs those rad shades!

What deft bit of performance art is wacky Owen Van Natta, VP of Operations and Chief Revenue Officer, performing here? A meditation on life as an underling of various and sundry Web moguls–all Silly String and sorrows?

We have no idea what Chamath Palihapitiya, VP of Product Marketing and Operations, is doing, but it looks cool, and he’s dressed natty as always.

Hey, who also knew that VP of Strategy and Operations Matt Cohler was in a 1990s techno-rock duo? (Oh, he’s the one without the shades.)

VP and CFO Gideon “Death Cat” Yu used to have to drink from public fountains, but soon he’ll have his own, spewing only the finest champagne!

It is hard to know where to begin with this picture of PR head Brandee Barker (is she headed for the Castro Street Fair?). But I say: Own it, sister!

There are exactly zero interesting pictures of doubtlessly interesting Founders Fund VC Peter Thiel online (and we looked hard). That’s him on the right, looking the most normal of this PayPal crew.

Again, it is hard to know exactly what Accel Partners VC Jim Breyer is up to here, but we think the hat might be a new and exciting look for him.

Greylock Partners VC David Sze is thinking really hard about how he can say Facebook is worth $15 billion and still keep a straight face and refrain from cackling in front of all the other VCs at Il Fornaio.

OK, for those who refuse to live in a little place I like to call reality, let’s review the news coming out of eBay yesterday regarding its 2005 acquisition of Skype for the then unheard-of price of $2.6 billion.

The Internet auction giant declared the purchase of the once hot online telephone start-up a dud yesterday, taking an asset-impairment charge of $1.43 billion for the deal.

In addition, Skype founder and CEO Niklas Zennström was out. The move, said eBay in a filing, represented “updated long-term financial outlook for Skype.”

Quickie translation: Major buyer’s remorse.

While Zennström said he was “proud” of Skype’s performance of late (it has grown its users and revenue), the fact of the matter is eBay could not spin straw into gold with the acquisition and make the kind of money its lofty economics required for the once-hot VOIP leader. Thus, eBay only had to also fork over one-third of its $1.7 billion payout to investors, too.

While many were saying all this was due to who bought Skype–maybe it was eBay’s fault and other potential acquirers could have done better–Skype was once thought of as a giant killer in the telephony world, with many going on and on about its vast potential.

Sound familiar? Before Facebook sky-high valuation fans go nuts, I know there is a difference between the economics of a Web phone service and that of an ad-based, possibly target-rich interactive online environment.

But there was an awful lot of hype, I mean, hope back in 2005 that Skype could easily turn into a massive moneymaker by selling a wide range of goods and services beyond its core Internet calls offering.

Because advertisers and other services could target its motivated and highly trackable users, went the story, that meant the possibility of ladling on more revenue and profits.

In fact, by leveraging Skype’s exploding popularity, eBay had hoped to add premium offerings like conference calls and links to its own vast networks of sellers on its flagship auction site. There was a user-generated Yellow Pages and even an offering called Skype Prime that allowed callers to charge a variety of services.

All good ideas that just did not pan out with quite the results expected, all directly due to the exorbitant sum overpaid for Skype.

Revenues for Skype were only $90 million in the most recent quarter (out of eBay’s overall $1.83 billion), despite its adding 75 million more users since the acquisition to total 220 million.

As I wrote about Facebook’s talks with a variety of investors that value it at upward of $10 billion, Skype was a story about the difference between potential and actual when faced with the real-world difficulties of making a popular Web site into a truly profitable and sustainable business.

I am not sure how I managed to get to be the little rain cloud at the Facebook parade, but the simple act of questioning the possibility that it might not make the kind of money its cheerleaders envision, especially in light of the Skype write-down, seems prudent.

We all know it’s admirable–even astonishing–that its founder Mark Zuckerberg and his small team have grown the terrific and vibrant social-networking service into a 40 million-plus user base and growing with plenty of promise with regard to new kinds of advertising paradigm.

But the business, as it stands today, only has about $30 million in profits on $150 million in revenue.

More importantly, half that revenue comes from a sweetheart guaranteed revenue deal with its ad-partner Microsoft, which still is a non-economic wash for the software giant more interested in planting a flag and paying for some pricey education in the social-networking sector.

That has not stopped Microsoft from offering Facebook, according to sources close to the company, investment dollars in the hundreds of millions for a small stake.

Said those familiar with the most recent offer, such an investment would include a possible right to buy the company should Facebook decide an all-out acquisition is the way to go (doubtlessly a Microsoft preference).

Sources note that Microsoft is now blowing hot and cold about such a deal, which is being championed by CEO Steve Ballmer and Chief Software Architect Ray Ozzie, who lends the Seattle behemoth some much-needed Silicon Valley cred.

At Facebook, Zuckerberg is key to the talks, helped by such advisers as VPs Owen Van Natta and Matt Cohler and CFO Gideon Yu (whom we like to call “Death Cat” for his uncanny ability to cuddle up to hot Internet start-ups, much like that nursing-home feline who can sense death).

According to sources, Microsoft remains obsessed with keeping rival Google out of the picture and positing that the search part of the Facebook phenomenon is where the real gold is located.

While adding more robust search to the site seems fine, Facebook execs do not consider it a killer app and are perplexed by Ballmer’s laser focus on it in recent talks.

“We don’t want to be taken in by the siren song of search,” said one.

That’s especially true given the engaged nature of its users while on the site with, well, the site. After all, you don’t really want to search when you are hard at work stalking your “friends” on Facebook.

All kidding aside, that kind of motivated user is what has kept suitors lining up, including solo visits to Facebook HQ in Palo Alto, Calif., by Yahoo co-founder and CEO Jerry Yang (inquiring about doing some sort of deal–after its botched acquisition effort from last year–such as taking over Facebook’s international ad-serving business).

So, too, has Google come on by, not necessarily to invest in or buy Facebook, but to look more closely at a variety of ad and apps plays on the service (and, you have to guess, to drive Microsoft bonkers).

And others in droves, such as a recent visit by Viacom head Philippe Dauman, who just wanted to say hello to the Facebookers.

In all this hubbub, one has to wonder what Facebook wants and needs?

Here’s my educated and reported guess:

1. A redo of its ad deal with Microsoft, getting even more guaranteed dollars and more latitude over its own sales efforts. An extension would be fine, I guess, but perhaps not, given interest from others to sign up Facebook and make friends with it.

2. An international ad partner, although I don’t expect Facebook to hand over the store here in this critical arena for itself. While the site’s U.S. growth has been strong, its international aspirations will be key to its long-term success.

Possible partners here are obvious: Yahoo, Google, Microsoft.

3. An investment on its terms and not necessarily with Microsoft or Google or whatever giant media company that comes calling with glad hands and lots of shiny baubles to offer.

What Facebook must do is evaluate which partner actually benefits its goals of further growing its member base here and abroad, gives it access to new marketing opportunities and forks over the unencumbered cash and advice to create or buy new assets it needs to continually improve itself.

4. Zuckerberg has got to be looking at what happened over there at rival MySpace and probably wants to do things a little differently. While MySpace has grown a lot since its purchase by News Corp., it’s an open secret its founders Chris DeWolfe and Tom Anderson think they sold too soon and now are angling to be better compensated.

In addition, it’s nicer to be in charge of your own fate, if you can pull it off. Because even if Microsoft or any other buyer promises total freedom, when you sell (especially to an already public company), you instantly become an employee–a well-paid one, to be certain–and your fate is no longer in your hands.

And, like Skype’s Zennström, that fate can be “updated” once performance falls off. Which it will.

5. I think that Facebook is well positioned to stay independent and not sell at all, although it is clear it thinks taking big money is a good idea.

I am not so sure it is, for a lot of reasons (not the least of which are the complications now surrounding the valuation of its stock options–Section 409A!–and the ability to attract talent with a good package).

But if Facebook can pull it off in a way that gives it running room and relative freedom, I can hardly imagine it will resist.

“We’re not stupid over here, we want the right deal at the right time that fits into the right thing for us,” said one exec there.

Right.

Please see this disclosure related to me and Google.

That included our exclusive report that Facebook was raising a massive round of funding at an even more massive valuation.

The news, which comes as no surprise (make hay while the sun shines is my motto, too!), apparently brought a boatload of all new offers to the company execs at the hot social-networking site.

So much so that CFO Gideon Yu–whom I have nicknamed “Death Cat” for his uncanny ability to land a big job at the hottest company of the moment, much as that nursing-home feline can sense death–has been fielding requests to shower founder Mark Zuckerberg with cash from everyone and his uncle and from across the globe.

I got a lot of them, too, that I did not pass on, but sorry, DC!

Also very amusing was the comment by Gabe Rivera of Techmeme about the Yahoo acquisition of BuzzTracker, which I also broke last week, on a posting by HipMojo’s Ashkan Karbasfrooshan on the deal. Techmeme was one of the rumored sites Yahoo considered, some speculated (not me!), before Yahoo decided they had too-pricey valuations.

I repeat Rivera’s comment in its entirety below, as it is very funny:

Ash, please, enough speculation! I suppose at this point I can share some of the details.

“I didn’t ask for ‘too lofty a valuation.’ I informed Yahoo that I would agree to sell given (1) $4 million up front (2) $2 million earn-out over no more than two years (3) a lifetime supply of the delicious Y! peanut butter Brad G. wrote about and (4) a purple and yellow unicorn.

“Tom Cruise, Yahoo’s lead in the negotiations, made it clear some of my requirements were not acceptable. Discussions ended amicably.

“Warmest congratulations to both BuzzTracker and Yahoo, of course!”

Also, we liked that the very excellent David Shabelman of the Deal blamed the whole anticipation at what would happen at Yahoo on BoomTown, because we have initiated our 100-day countdown, based on CEO Jerry Yang’s comments to investors this summer.

Wrote Shabelman:

Yes, Yang is responsible for getting hopes up for some kind of substantial announcement, when he said in July he would spend the next 100 days coming up with a fresh strategic plan for the company. But what he probably wasn’t counting on was Kara Swisher writing about what she thought Yahoo should do ad nauseam in her BoomTown blog, creating outsized expectations.”

Ad nauseam!? David, as you must know, nobody expects the Spanish Inquisition! Our chief weapons are fear! And surprise! And ruthless efficiency! But no red uniform. (See below.)

But wait until you see what we have on tap for Day 75! And, we already have called in Hollywood stylists for Day 99.

Now, Yahoo, how do you plead?

So we are all up to date, here is the new–and much more helpful–Facebook page on top management.

And it seems now that all the executives at the hotter-than-ever social-networking company have become simple vice presidents (although some get extra titles, too).

While some were already VPs, it appears to all be part of a novel attempt at title deflation that is kind of admirable. No EVPs or SVPs or presidents or anything else.

While too many of the execs appear to be in charge of operations of some sort, it feels a bit clearer than before. And it definitely positions all the execs on the exact same level (almost like some commune!).

This was all set in motion, of course, with the recent downgrade in title of COO Owen Van Natta.

Of course, there is one who rules above all with the big title: Chief Executive Officer and Founder Mark Zuckerberg or, as I plan to call him when I see him next, the Man.

So, after the jump, is that skinny with pictures, of course, which is slightly different than when I posted my own Facebook of Facebook execs:

Mark Zuckerberg remains CEO and founder.

Owen Van Natta was COO and is now vice president of operations and chief revenue officer.

Chamath Palihapitiya is now vice president of product marketing and operations.

Matt Cohler is now vice president of strategy and operations.

Gideon Yu is now vice president and chief financial officer (and I like to call him Death Cat, too, because he is like that cat named Oscar for his unusual ability to get a sweet job at the hot Web company of the moment at just the right time).

Dustin Moskovitz is now co-founder and vice president of engineering.

Adam D’Angelo is now vice president and chief technology officer.

I also gave a rundown of all the top execs at the fast-growing social-networking company and their duties (there are an awful lot of vice presidents with operations in their title, which I shall leave to another post to parse).

But, silly me, this is Facebook after all, and I forgot the photos of each of the members of co-founder and CEO Mark Zuckerberg’s brain trust, who will presumably make the popular site hugely profitable and an inevitable part of every man, woman and child’s life on the planet.

Right, boys? (Because there are no ladies in this group.)

So here’s the dream team head shots and a little background on each below the photos from their bios on the site and elsewhere.

Mark Zuckerberg needs no introduction these days what with all the magazine covers and morning news shows. My mother knows who he is now and my mother can hardly turn on a computer. But let’s try, shall we?: Harvard. Almost Quarterlifer. Co-founder. Flip-flop wearer. Genuine visionary with potentially Gatesian dreams of dominance over all he surveys. I think that about covers it.

Owen Van Natta was COO and is now, as I said above, chief revenue officer and vice president of operations, where he is in charge of important parts of the business, like ad sales and other money-making efforts. Van Natta came to Facebook from his stint at Amazon.com, where he held the weighty title of vice president of worldwide business and corporate development and also was part of the founding team of its A9.com site. With a handsome surfer-dude look, is it any surprise he went to college at the University of California at Santa Cruz?

Chamath Palihapitiya, who was born in Sri Lanka and was raised in Canada, was recently hired as Facebook’s vice president of marketing and operations. The former AOLer, where he was in charge of its instant-messaging division, is widely credited with turning it around. He also did a stint after AOL at the Mayfield Fund, where he waxed on in a section of its Web site about his love of poker, noting that he regularly played, “very high-limit or no-limit hold ‘em games in Los Angeles, Las Vegas and Atlantic City, and have played against many of today’s top pros.” We like him already.

Matt Cohler, vice president of strategy and business operations, was one of Facebook’s earliest hires and feels like the Yoda figure at Facebook to me (he is also in charge of the critical international expansion). A New Yorker, he went to Yale, worked in China, was a management consultant at McKinsey and was also part of LinkedIn’s founding team. And don’t be fooled by the baby-faced looks–he apparently worked for a year as a jazz musician in Europe and, therefore, is a hep cat.

Gideon Yu is also a recent hire at Facebook as its chief financial officer. Like that cat named Oscar who can detect death, Yu seems to have an amazing ability to get a sweet job at the hot Web company of the moment at just the right time. Case in point: He left Yahoo as its treasurer and went to YouTube as its CFO just a month before it sold to Google for $1.6 billion, a deal in which Yu apparently played a key role. Then, on his way to a spot as a junior partner at also-hot VC firm Sequoia Partners, he grabbed the Facebook CFO job in July. I say we watch where Yu goes and follow stealthily behind so as not to be detected.

Is it just me or does Dustin Moskovitz remind you of cuddly actor Seth Rogen from “Knocked Up” with his hair cut short? As Facebook’s vice president of product engineering, he oversees the site’s architecture and more (like mobile strategy and development). More importantly, the economics major shared that Harvard dorm room with Zuckerberg, where they and others created the service (while most other people’s college dorm mates basically drank beer and passed out).

Last but not least, Chief Technology Officer Adam D’Angelo, a longtime Zuckerberg pal. He’s in charge of keeping Facebook from breaking apart as it grows, kind of like Scotty in “Star Trek.” But there’s no warp drive that can save the site from all those surly college students and surlier Silicon Valley types if it all went kerflooey. His Facebook bio says the computer-science grad from the California Institute of Technology was one of the “top 24 finalists in the Topcoder Collegiate Challenge, which tests the ability to design and implement complex algorithms in a timed environment.” Color me impressed, even though I have no idea what that means.

In any case, I look forward to meeting you one and all.