Facebook joins the Billionaires Club

Posted on by

facebook_logoFacebook is at the forefront of Tech news today (what else is new). Elevation Partners, a Silicon Valley private equity firm, just gave the social networking behemoth a valuation of $23 billion (yes billion) after it’s secondary market purchase of 2.4 million shares for $120 million dollars.

23 billion dollars. Wow. What’s funny is Facebook’s ad revenue last year was only $800 million. How exactly you get a valuation of $23 BILLION is beyond my mathematical skills. But still, with 500 million users (double what they had last summer) and exponential growth patterns in both India and Russia (and the rest of the world for that matter) it seems the sky is the limit for Facebook.

Bottom line, social media and networks are big business, and here to stay. The largest economic players in the country have definitely put their money where there mouth is.

Looks like we are along for a long, long ride.

All my best,

jay_signature_email

Jay Kubassek

Comments

Powered by Facebook Comments

  • http://notyet Elena Ortega

    I was really intrigued after reading some of the blogs about you, so I decided to watch your video, after all I had seen your add many times on facebook.
    It was like hearing the story of my life all over again! I really don’t know if it’s really true that you used to have a dead-end job at MIDAS. All I know is that I would really like to know more about what you are doing now, and how you turned your life around and became so successful. Please contact me at elenaaescobedo@gmail.com, or at my fb mail: R Elena A Escobedo.

    How can I contact or join your team?

    Hopping to hear from you soon,

    Elena Ortega
    Have a Great 4th of July Weekend!