From Last two years we have seen social networking sites getting popular and profitable, the Older Media players have bought such social networking sites, hoping to create a buzz. News Corp. bought MySpace. NBC-Universal bought iVillage. Viacom Inc. bought Neopets. And so on.

Facebook is the popular college-based social network Web site, not totally like MySpace, there people can post profiles with pictures, blogs and so forth and let friends within their networks have access to the material. Unlike MySpace, it is something of a closed community, limited to college campuses, high schools, workplaces and geographic regions. They have over 9 million members.

Facebook founders, Chris Hughes 22 co-founded the online social directory, Facebook, in 2004 with Harvard roommates Mark Zuckerberg and Dustin Moskovitz. He has served as the site’s spokesperson since its creation.

They are great examples of successful young entrepreneurs in US. It is difficult to value their company for potential buyers today, but in past Viacom Inc. and others were quoted $2 billion, they were not interested to sell Facebook then.  Facebook owners now seem serious about getting acquired, and this time around Yahoo INC. seems to be the one who can roll the deal with them. Let’s see what Figure they finalize it on. 

 

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