Facebook.com On the Auction Block
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Written By Reprise Media | March 29, 2006 | Share This
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Jackson, Grant and Franklin could soon be among the newest faces joining the social networking site Facebook.com as news circulates of the company’s courtship by a number of wealthy suitors.
A story on BusinessWeek yesterday says the popular site could fetch as much as $2 billion from a successful sale to a company like Viacom, whom investors say is one of the most likely prospects.
Facebook has already turned down an offer of $750 million, a move which may seem foolish until you consider that the site, started by two Harvard students, is now the 7th most heavily trafficked site on the web.
Here’s an excerpt from a WebProNews article published today:
“Picking up Facebook would give Viacom a path along which to bring its young demographic, as they progress from Neopets to high school and college. Given the site’s more controlled nature, compared to the wide-open MySpace and the concerns it has raised among parents, Facebook should have more advertiser appeal.”
Related in SearchViews: Big Site on Campus: Facebook.com
Topics: Social Media |