Facebook price tag drops (another) $3.5bn
Facebook's Russian sugar daddy has offered to buy back employee shares for $14.77 a pop, which means the ostensible value of the social networking site has dropped another $3.5bn. In late May, Digital Sky Technologies paid $200m for a 1.96 per cent share of the Palo Alto-based startup. That put the company's value at $10bn, down …
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Only $6.5 Billion???
SOLD!
What a crazy, discount deal! After all, revenue and profits are temporary while fecebook 2.0 friends are forever*.
*Until they delete you or slap a restraining order on you anyway.
Dotcom 2.0
Er, hasn't anyone remembered the original dotcom crash ? Y'know, the one where companies that were making huge losses, no traditional capital, and with no apparent way to make a profit, were being valued for ludicrous prices, only for the real world to kick 'em in the nuts ?
If facebook aren't making a profit out of 300 million members, how many people do they need to join to turn a profit ? I can imagine the chat down the local bank:
You: "Hello Mr/Mrs/Miss. Bank Manager. Can you lend me X Billion pounds/dollars/Euros to setup a new website. It'll be really cool."
Bank Manager: "And how long before you make a profit ?"
You: "Oh, we'll only need just shy of half a billion people to use our website to break even"
Bank Manager: "Looks like a sounds business plan to me. Here's the money"
Yeah, right..
@Matthew Weekes
Are you sure you want to get into a discussion about what your mum is on a web comments section??
Wrong Hosts
Faecesbook should have gone with one of many hosting providers that offer "unlimited space" & "unlimited bandwidth" for £50 a year, might turn a profit, not.
Inappropiate Icon.
As James May would say....
...cock.
This guy Zuckerman, if the numerous Reg stories are to be believed, is a complete and total one. "Facebook is changing the world...."
Pah.
P.
It's been a couple of years now
surely Facebook's due to be shoved aside by some bright shiny new entrant, much as Myspace has been sidelined? Twitter doesn't count, that's over already.
@Mattew Weekes
"My mum is hardly a self-obsessed Web 2.0 type."
She probably ticks the box for uploading endless streams of drivel though. Thats pretty self obsessed web2.0 to me.
Short
I'd like to short Facebook shares if anyone would be happy to lend me some?
"growing 70 per cent a year"
"growing 70 per cent a year" yea 70% of not much is still not much
Your foster parents are on facebook (might as well be dead)
userbase
The second time I read that article the more needlessly scathing it seems. Of course facebook isn't a 15, 10 or even 5 billion company, but it's still captured a vast base of users who're quite happy to flesh out the most tiny detail about themselves. It remains a direct marketeers wet fking dream and that information retains value whether you're a bitter old prat or someone who actually uses the service.
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