Social Media: Next Dotcom Bubble?
(Newsweek) — Social media site Facebook has been much in the news of late. Its creation was the subject of what many predict will be an Oscar-winning movie. Its founder, Mark Zuckerberg, was recently dubbed Time Magazine‘s 2010 Person of the Year. And now, thanks to a $500 million infusion of capital from Goldman Sachs and Russian investor Digital Sky Technologies,Facebook is reportedly worth $50 billion. Oh, really? If that $50 billion valuation is accurate, Facebook is now worth more than Yahoo!, eBay andTime Warner, and is running up hard against such Internet giants as Amazon and targeted rival Google.