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Facebook - $750 Million NOT enough
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Jellicle Cat


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Old Apr 1, 2006, 01:52 AM #1 of 21
Facebook - $750 Million NOT enough

Quote:
The owners of the privately held social-networking site hope to fetch as much as $2 billion. And media giants like Viacom may make a good match.

Facebook, the Web site where students around the world socialize and swap information, has put itself on the block, BusinessWeek Online has learned. The owners of the privately held company have turned down a $750 million offer and hope to fetch as much as $2 billion in a sale, senior industry executives familiar with the matter say.

That may sound like a huge amount of money, especially when you consider that the company was launched just two years ago by a group of sophomores at Harvard University, led by Mark Zuckerberg (see BW Online, "Under 30, On the Cutting Edge"). But already, www.facebook.com has become the seventh-most heavily trafficked site on the Internet, according to market researcher comScore Media Metrix. It racked up 5.5 billion page views during the month of February, the latest month for which complete data are available. That's more page views than the Web sites of Amazon.com (AMZN), Ask.com, or Walt Disney (DIS).

GOOD FIT. It's not clear who would be willing or able to pay that much. Industry analysts think that Facebook might be a good match for Viacom (VIA), which owns the MTV, VH1, and Comedy Central cable networks. "I think Facebook would be a great strategic fit for Viacom," says Troy Young, executive vice-president and chief experience architect at Organic, an online advertising and consulting firm. "Viacom has people working on social networking. But I think they need to demonstrate to the market, through a major acquisition, that they are on top of the youth marketplace," Young said. Viacom declined comment. Facebook executives weren't immediately available for comment.

A Facebook deal would help Viacom founder and Executive Chairman Sumner Redstone fend off a growing challenge from News Corp. (NWS). The media conglomerate run by Rupert Murdoch has poured enormous resources into the Internet during the last year. It acquired social-networking pioneer MySpace.com last year for $580 million (see BW Online, 11/15/05, "Users Crowd into MySpace").

MySpace has continued to grow since the acquisition. It had 37.3 million unique visitors during the month of February, according to comScore. It logged 23.5 billion page views, making it the second-most trafficked site after Yahoo, which had 30 billion. MSN (MSFT) was No. 3, with 18 billion, and Google (GOOG) was No. 6, with 7.7 billion. News Corp. also acquired gaming and men's lifestyle site ign.com for $650 million (see BW Online, 08/22/05, "IGN Entertainment: Where the Boys Are").

ATTRACTIVE TO MARKETERS. Sites like MySpace and Facebook, and social-networking rivals such as the video-oriented YouTube are promising new channels for communication, entertainment, and marketing. Social-networking sites are a primary form of communication for millions of younger people in the U.S, and increasingly, around the world. It's not unusual for young people to spend an hour or more a day at such sites, posting photos, messages, and blog entries, and building up huge lists of online "friends." While advertising rates on such sites are low, marketers of music and consumer goods have flocked to MySpace and its rivals.

Facebook doesn't match the scale of MySpace, but Organic's Young says it presents a great opportunity for marketers. The site admits college and high school students, though it's more popular on a college level, and the atmosphere is more controlled than the free-wheeling MySpace.

In recent months, parents, politicians, and police have become concerned that criminals could be taking advantage of MySpace (see BW Online, 03/06/06, "Making MySpace Safe for Kids"). On Mar. 21, Connecticut Attorney General Richard Blumenthal called on the company to take steps to protect minors from potential harm. MySpace says that it shares the concerns about safety and security on the site and is working with the attorney general to bolster its safety practices and procedures.

WAY BEYOND CAMBRIDGE. Zuckerberg founded his company, originally known as The Facebook, as a way for classmates at Harvard to communicate. It was named after the books that colleges typically provide students, listing profiles and pictures of classmates. He asked friend Eduardo Saverin to help fund the site. Classmates Chris Hughes and Dustin Moskovitz joined as co-founders. The site was an instant hit at Harvard, and it quickly took hold at other schools, such as Stanford University. Since then, it has spread across the U.S. and other parts of the world.

Just a few months ago, people scoffed at the hundreds of millions that Murdoch spent on News Corp.'s Net acquisitions. But those prices are likely to be surpassed in the near future, as M&A activity in the social-networking sector heats up.

Source
2 years old and turned down that much money... some may say he's greedy, but if he sells, I think he'll be able to pull a 10-figure bid from somewhere.

Do the sites really seem to be worth that much? If you get a halfway decent idea, work on a structure, get a server running... then more as time goes on, you can make a fortune in a couple years. Are these really good investments for companies?

Jam it back in, in the dark.
IdleChill
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Old Apr 1, 2006, 01:54 AM Local time: Apr 1, 2006, 01:54 AM #2 of 21
Haha internet bubble.

I'd take the 2 billion and run.

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Old Apr 1, 2006, 01:58 AM #3 of 21
As awesome as 750 mil would be. 2 billion is a lot better. Chances are someone else will be interested but that is a hell of a lot of money.

This thing is sticky, and I don't like it. I don't appreciate it.
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Mucknuggle
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Old Apr 1, 2006, 02:01 AM #4 of 21
Watch Microsoft buy it and incorporate it into X-Box Live.

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Watts
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Old Apr 1, 2006, 03:19 AM Local time: Apr 1, 2006, 01:19 AM #5 of 21
Here I thought the internet bubble burst years ago! Ahah.

Given how many hits it receives it's a nice source of advertising. Some company probably is crazy enough to buy it for two billion dollars.

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Thrik
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Old Apr 1, 2006, 08:34 PM Local time: Apr 2, 2006, 01:34 AM #6 of 21
The luck of some people truly upsets me.

What kind of toxic man-thing is happening now?
Adamgian
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Old Apr 1, 2006, 08:48 PM #7 of 21
I wouldn't be surprised, that kind of access to that many users is definately a huge plus. Besides, Facebook is actually a pretty good site comparatively.

I see them getting the 2 billion eventually, the website is growing and has more potential than MySpace simply because its more regulated.

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Spike
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Old Apr 1, 2006, 08:50 PM Local time: Apr 1, 2006, 06:50 PM #8 of 21
Originally Posted by 6w¥leblack
Facebook sucks lol
Is it any better than myspace? Both sites are stupid as shit. The guys who founded them are lucky though.

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gren
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Old Apr 1, 2006, 08:57 PM #9 of 21
Facebook is useful for getting in touch for people with your classes... the only problem is that you also have to see them with a beer bottle and no shirt. I think someone should make a better alternative and DOS them ~_~

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Synonym
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Old Apr 1, 2006, 09:43 PM #10 of 21
Does Google want to buy Facebook!?

http://www.marketingshift.com/2006/0...hefacebook.cfm

Nothing like a good ol' rumor going around.

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splur
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Old Apr 1, 2006, 10:05 PM #11 of 21
Surprised how popular facebook got. When I joined, it was still struggling to get enough users.

This thing is sticky, and I don't like it. I don't appreciate it.
Trigunnerz
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Old Apr 1, 2006, 11:24 PM Local time: Apr 1, 2006, 08:24 PM #12 of 21
Is Facebook really worth that much? I guess since it was the first to do the college network thing. But still, I'm amazed the guy didn't just take the $750M. I'm sure he needs to probably split it up among his owners, and lose half of it to tax, but that's still a lot.

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xen0phobia
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Old Apr 1, 2006, 11:33 PM #13 of 21
I really like the concept of the facebook. I refused to join it for about 6 months after i got my college email address but i'm glad i eventually did. I really have met alot of interesting people i wouldn't have otherwise at my college.

In my opinion the website has top level design and great functionality. Much better then myspace. Also, it doesn't come with near as my gay pricks and old men seeking sex with minors. Thats always a plus.

Oh and i think it's definitely worth more then 750 million. I have no doubts they'll get the 2 billion from someone eventually.

I was speaking idiomatically.

Last edited by xen0phobia; Apr 1, 2006 at 11:35 PM.
DCII764II00
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Old Apr 2, 2006, 12:04 AM Local time: Apr 1, 2006, 09:04 PM #14 of 21
Originally Posted by Mucknuggle
Watch Microsoft buy it and incorporate it into X-Box Live.
lol... I like that.
Gotta say though, internet companies are not always stable.. THough if this is something that is only 2 years old.. there is still a ton of steam left in the tank for this baby to run..

I'd like to see what happens.

.dc

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RacinReaver
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Old Apr 2, 2006, 12:59 AM Local time: Apr 1, 2006, 10:59 PM #15 of 21
How could Viacom hope to remake the $2,000,000,000 they'd have to invest on Facebook. Does the analyst that recommended them really think that college kids don't know about the Daily Show and TLR?

(Also, lol at Murdoch's company having the symbol NWS.)

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splur
Chocobo


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Old Apr 4, 2006, 11:16 PM #16 of 21
What the US military buy it... they wouldn't even need to make an profit on the site, the recruited privates would pay off on its own.

I'd delete my account if that happened.

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Rollins
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Old Apr 4, 2006, 11:19 PM Local time: Apr 4, 2006, 09:19 PM #17 of 21
Facebook > MySpace. Any day of the week.

Facebook is a powerful advertising tool. Over the last couple years, facebook has gone from the niche to the majority. They're somehow still managing to sneak in little new features into it. They've expanded to high schools and it feels like people who just got into university sign for their university's facebook the same day (which shouldn't happen, but they find a way apparently).

It needs to be bought by Microsoft and become part of the MSN portal. It's gonna happen.

Jam it back in, in the dark.


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nazpyro
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Old Apr 4, 2006, 11:23 PM Local time: Apr 4, 2006, 09:23 PM #18 of 21
Yeah, Facebook is very powerful indeed. I was talking to some employmeny lawyer, and he mentioned Facebook as a very powerful tool for future recruiting and such. Good stuff.

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Old Apr 4, 2006, 11:25 PM #19 of 21
Because, you know, it's not like when they purchase Facebook they're gaining the rights to god-knows how much in intellectual property. Terms of Service agreements, anyone? Facebook OWNS anything you post on it. Forever. That hit song you posted after your girlfriend ate your dog? They own it. Same as all your pictures, and movies.

Eventually, someone's going to post something that'll make up for the expendiature.

This thing is sticky, and I don't like it. I don't appreciate it.
Drex
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Old Apr 5, 2006, 01:27 PM Local time: Apr 5, 2006, 12:27 PM #20 of 21
Pretty clever move to sell the thing. You can only do so much with a site when you're a college kid/recently graduated college kid, and media ads will only bring in so much revenue (albeit on a recurring basis). To get a huge lump sum and retire for the rest of your life, and possibly even keep a creative hand if you want...it's a good move. It has to be the right buyer, though, because Facebook going into the wrong hands would collapse faster than a house of cards in the thunderstorm going on outside my apartment right now. If they mess it up, there're too many almost decent alternatives.

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Old Apr 5, 2006, 05:25 PM Local time: Apr 5, 2006, 04:25 PM #21 of 21
Facebook is a firm's dream come true. Firms and companies have been targeting the college student demographic for years, or at least attempting to. Some have been successful, but with such a huge database of addresses, phone numbers, names, hobbies, etc., this is an advertising goldmine.

Since I don't like Facebook, I would like to see Claria Corporation purchase this one.

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