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...Cohler denied that Sandberg's hire had anything to do with his move: "Sheryl is a close friend of mine. Mark and I recruited her to the company together. There is zero operational overlap between what she does and I do at Facebook. We are very complementary...
...Zuckerberg had started "the facebook" while an undergrad at Harvard as a social network for Ivy League students, then moved to Palo Alto, Calif., in 2004 to turn it into a business. It subsequently threw open its doors to everyone and made the guts of its underlying code accessible to developers, creating a massive platform for applications. (And making some of those developers a lot of dough: SocialMedia, an advertising network that represents the apps makers, has paid out over $8 million to 1,000 developers in less than a year.) The network now has 80 million active members, surpassing...
...losing Cohler has got to be a real blow to the service. He's got tons of smarts and maturity and came to Facebook via LinkedIn, a social network for business users he helped Reid Hoffman, the legendary Silicon Valley entrepreneur, found. "He's the soul of Facebook," one Valley insider, who knows Cohler and works closely with Facebook, told me. "He is driving the service, the user experience. That's his thing...
...Facebook did not immediately comment this morning...
...Cohler's stake in Facebook, a privately held company valued at $15 billion (thanks to Microsoft's minority investment last year), is likely vested by now. And he's not exactly leaving for a job in the Peace Corps. One of Benchmark's hallmarks is that all of its partners share in the wealth equally - a deviation from the typical star system at venture capital firms, where partners tend to be rewarded based on the deals they put together. The firm - which, with Cohler, now has nine partners - manages nearly $2.8 billion. Cohler said that another aspect of the novel...