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, …

[Matthew Weekes]

userbase

My mum is hardly a self-obsessed Web 2.0 type.

[tuna 1]

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.

[Gordon Ross]

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..

[Anonymous Coward]

@Matthew Weekes

Are you sure you want to get into a discussion about what your mum is on a web comments section??

[Eddie 3]

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.

[Piloti]

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.

[Anonymous Coward]

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.

[It wasnt me]

@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.

[Anonymous Coward]

Short

I'd like to short Facebook shares if anyone would be happy to lend me some?

[Anonymous Coward]

"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)

[Inertia]

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.