Update: the Industry Standard has an even more credible take on this one.
Well, we’ve all heard that social networking is the “next big thing” in genealogical research. But is the LDS Church really planning a hostile takeover of Facebook to “help monetize its genealogy business”? I’m going to go out on a limb and say…. no, not a chance. Here’s the story, according to respected private equity website TheDeal.com:
“Here’s one you don’t hear every day: The Mormon church is reportedly making a hostile bid for Facebook Inc. Brooklyn blogger Zach Klein says an “employee close to the deal” told him the Church of Jesus Christ of Latter-Day Saints wants the social network to help sanctify, meaning monetize, its large genealogy business.
Idle chatter, hipster hucksterism, blasphemy punishable by an eternity of hell-fire? Who knows (and quite possibly all of the above)? The LDS Church does have money to burn. And Facebook prophet Mark Zuckerberg, with his choir boy demeanor, might make a nice addition to those Tabernacle singers.”
Originating as this rumor does from “Brooklyn blogger Zach Klein”, this one sounds pretty easy to dismiss. Only one problem — TheDeal.com updates its article on the topic with a comment from Lyman Kirkland, ostensibly from LDS Church Public Affairs, denying the rumor. So far so good… but Kirkland’s comment spells the name of the Church incorrectly!
OK, so there’s still no way this is gonna happen. But what if it did? How exactly would owning Facebook help the LDS Church monetize its vast genealogy resources? How would that help further the Church’s overall objectives? And if Facebook is really worth some $15B, how is the Church going to afford the purchase? That’s a lot of tithing!