Facebook hits $50bn value mark after bank investment
Tuesday 04 January 2011
As the social networking site Facebook reportedly lands a cash injection which values the company at $50bn, Channel 4 News commentators debate the success and investment of the social media giant.
It's got friends in high places: the social networking site Facebook has reportedly landed a cash injection from the investment bank Goldman Sachs and a Russian firm in a deal that puts the company's value at 50 billion US dollars - £32bn.
More than half a billion people around the world are now on Facebook - so what will this new deal mean and why would a Wall Street bank be interested?
Jon Snow ponders the value of Facebook
For Channel 4 News presenter Jon Snow Facebook will always be inferior to a certain microblogging site.
"I've just made a rare sortie to my Facebook page to be greeted by someone’s feet. I’m afraid that may be why I don’t often bother to go to Facebook.
"The feet are perfectly enticing, but as I set about my day, do I need them right now? Do I need to know that assorted people have written on my "wall"? Do I get excited that seven people have "poked" me in the last week and that three people have asked me to "be their friend" today?
Facebook
"Facebook is full of time-consuming diversions. Potentially hugely attractive and amusing, I have no doubt…but then I have no time for either.
"Twitter, on the other hand, is focused, fast, informing, and the future. I am told in the newsroom that part of the $50bn that Facebook is now worth is ME! I am told that I have a monetary value – I am so excited by this concept that I have practically fallen off my chair as I write this."
Read more and have your say on Jon Snow's analysis of Facebook on Snowblog.
http://www.channel4.com/news/facebook-hits...
Posted By: DAVID JOHNSON
Tuesday, January 4th 2011 at 4:08PM
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