Facebook Is Worth $33.7 Billion
Facebook Is Worth $33.7 Billion – Facebook has been steadily gaining momentum over the last two or three years, with major jumps in the market in the past 18 months. But even with that in mind, their latest estimated worth is fairly incredible.
Reports have been coming out that say the social media giant is now worth $33.7 billion, a staggering amount that has pushed them past the earnings of both eBay and Yahoo, and even given them a higher earning report than Google’s 2004 initial public offering of just under $2 billion.
So far, Facebook has been holding back on releasing their own IPO, but that hasn’t stopped investors. Anticipating a greater profit when the numbers are finally revealed officially, there has been a surge of people buying up more shares and driving their stock price up to $76.
The problem with reports like this is it is based on imaginary money; the site isn’t expected to have an IPO until 2012, making the figures a complete guess. While it is coming from sources that have enough expertise to make an educated estimation, it is still only that: a guess.
But there is no doubting the share price, so we will see where the buy-up leads a few months from now. Until then, we can expect the interest in the site to at least stay steady. They announced their 500 millionth user last month, which shows that they managed to not only survive the number of privacy scandals to hit their site, but flourish in them.
Add that to the ‘Like’ buttons now seen everywhere on the web, and it seems safe to call Facebook a social monopoly.*Sponsored Links*