Yes facebook is valued at that much when microsoft picked up a 1.6 percent stake in facebook for $240 million it gave facebook the valuation of 15 billion read this for more info.
Well if this is not a sign of a bubble building then what is as far as investing $240 million in a company goes for Microsoft well it is no big deal for a company who is having close to $6.6 billion in cash reserves but the question remains why would microsoft give out such a huge amount for such a small stake in a company which does not have a solid business model yet the rumors floating around is that facebook is planning to monetize its user base by launching its own ad network. Well yes good that is very good but for how long can a social network claim they have a active user base well the normal trend now is where your friends move you move.
For example I was on hi5 then moved to orkut and now am very active on facebook and orkut. I don’t even bother much to login to my hi5 account to check it as my friends are no longer active on that so what does facebook believe will not give another startup an opportunity to come and swoop all its users to their network will facebook be able to maintain its user base after all it is a plain vanilla social network it is no yahoo or google where there is not just one thing but many things that can be done with one id you get mail, social network,shopping etc etc yes facebook has opened their platform to third party developers but so are other networks.
I am really struggling to understand why Microsoft would value facebook so much when myspace is termed as the king of social networks and I recently read somewhere that it is valued at $10 billion now when the market leader is valued at $10 billion and and upcoming star is valued at $15 billion based on factors like opening up the network to outside developers which other competitors can easily copy and are copying and opening to third party developers.
Well bubble or no it is good news for all tech entrepreneurs as it shows that the market is right for tech ideas and the VC’s are willing to invest in any ideas whether they are built on good business models or no.
As of now it looks like millions of users is more important then having a good business model

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and also it does not make you come back looking for more information the way Google does)