Yahoo’s Plan to Buy Facebook

I got a tip earlier this year that Yahoo’s rumored buy of Facebook was a done deal but couldn’t substantiate it. I wrote a story saying that VCs were watching Yahoo’s Q3 earnings for a potential announcement. Nothing ever came of it, and I gave up browbeating my contacts at the social networking site and its backers.

Now, Michael Arrington has the internal projections that Yahoo used to value the website. Meanwhile, Valleywag has the scoop on Sean Parker (a co-founder of Facebook, Plaxo and Napster) who has joined The Founder’s Fund, where he can apparently commiserate with Peter Thiel about being a victim of Mike Moritz.

Plus, Valleywag has a great picture of Terry Semel of Yahoo looking blurry and illusive, a la Bigfoot.