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21 September 2006 Comments Off

Facebook to be Bought by Yahoo for $1B?

Rumors are swirling this morning after the Wall Street Journal reported that Yahoo was in serious talks (Sorry, subscription only) with social networking site Facebook to purchase the MySpace-like site for $1 billion dollars. You heard that right. $1 BILLION dollars. Gendigital points out that Facebook has less than 400 employees and will do “no more than $30million” in sales this year.

Unlike Gendigital, I like the sounds of this acquisition. Assuming that $30million number, I’d bet that Yahoo could double those numbers in 3 years time without batting an eyebrow. Now you have a $60M/ year company with all the integration of all of Yahoo’s social networking enterprise – Flickr, del.icio.us and Upcoming.org. Throw in Facebook integration with Y! Messenger, Mail and all-out RSS support, and you got yourself a contender for an easy MySpace killer.

Facebook last week announced that it planned to open up its doors to the public. Previously, it was limited to students and a limited number of companies who signed up to allow their employees to use the service to connect with like-minded people in the organization.

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Written by Aaron Brazell on September 21, 2006

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