It was May. Birds were singing and blossoms blossomed. Facebook employees had open hearts and wide open checkbooks in anticipation of a cash windfall from its upcoming IPO, ready to purchase condominiums and apartments in San Francisco, doing their best to increase rents and blood pressure citywide.
Then GM pulled their paid advertising from Facebook three days before the company went public. GM claimed they couldn’t very well determine exactly what the Facebook advertising was doing; and without the sales numbers to prove that the paid advertising was generating auto sales, GM decided to pay brand managers to beef up the company Facebook page instead of paying Facebook for its ad services.
In the weeks since, the Facebook stock has underperformed, and stockholders have watched billions in market value whittle away as investors question exactly how Facebook will make money.
And those poor Facebook employees? Toiling away while they figure out how to make our lives more intertwined, our dreams more interwoven, our likes more like everyone else’s?
They’re still filthy rich and buying flats in San Francisco, or wandering around the Mission aimlessly drunk on a Friday or Saturday night looking to spend all their money somewhere hip. (They usually end up buying burritos.)
BUT…GM may be boomeranging back into the relationship. The Wall Street Journal reported that GM Chief Marketing Officer Joel Ewanick and Facebook’s global head of sales Carolyn Everson met where all old lovers meet to stoke the fading embers of love:
Voulez-vous coucher avec moi? That remains to be seen (also uncertain is which of the companies is asking the other to bed), but this was the first public meeting between the two companies since GM went single in May.