Ad firm Interpublic has sold half its stake in Facebook for $133m. The firm's stake was 0.4 per cent, so the sale gives an apparent value for the whole social network of $66.5bn. The deal was done back in 2006, when Facebook needed revenue and respect. Interpublic agreed to spend $10m of its clients' money on advertising on the …
Once a few laws here and there have been relaxed watch the money roll in.
An experian style check on someone you met /may hire, £20 . See a breakdown of their sordid life.
Security services worldwide will just pay a flat rate every year to interface with the DB.
To say nothing of the selling you stuff industry.
Anyone else think this one is gonna be a big burst? Unless of course FB uses their imaginary worth to buy hundreds of other companies to help it all keep going. Idiots.
ah but last time
it was overpriced compaies with no real stuff to justify the stupid valuations this time they, erm....
Advertising will save us!
Mind you, wish I'd had a few squid invested early with that sort of return!
same way as myspace in a couple of years.
ah yes, you were one of those who didn't read their maths question twice.
If they sold half of their share, which was 0.04%, then they actually sold .02% of facebook, which would make the authors calculations correct.
Unless of course, you were just making an observation akin to; If 1% of facebook was worth 3 apples, then the apparent value would be 300 apples?
pflat - The article has been edited
pflat, your comment was made after the article was edited/corrected but before the post pointing this out was deleted!
So the post was correct at the time it was written...
Your apology is gratiously accepted - thank you!
That is all.
Well done them
Possibly the best bit of business it's possible to do. Cash in now and hang on to some in case by some mirable FB doesn't go the way of MySpace.
This only proves...
...just how much information on people Facebook has collected and how valuable that information is.
Let's face it, Facebook's software isn't exactly the most complex or revolutionary...it's value is in the value of it's data.
Of course - clever software by itself doesn't make any money. How often have we seen the technically inferior product become more successful? Facebook is a business not a research agency.
It does not mean the value of Facebook is $66.5 Billion.
It means with shares being that limited, 0.2% of Facebook is worth $133 million. When more shares come on the market, the value per share will drop. That why they bring in special accountants to value tightly held companies - you can't do simple maths to find the value of the company. And yes, I don't really trust the special accountants, but they are the best we can do at the moment.
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