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July 11, 2006
A Billion for Bebo? Bubble, Bubble, Double Trouble
Mike Arrington at TechCrunch says the social-networking service Bebo has turned down a $550 million buyout offer--not far off from what News Corp. paid for MySpace. Bebo's asking price: north of $1 billion. That's on top of Facebook apparently turning down an offer of $750 million not long ago. Another story says the supposed suitor, British Telecom, denies the rumored offer. "Someone?? not telling the truth here, which is always a whole new story," Arrington notes in comments on his post.
Still, I share the worries of other commenters that this is getting out of hand. Maybe a couple of social-networking sites can build services for the long haul. But with time such a precious commodity--and one that only gets tighter as these folks in high school and college move into jobs and families--I wonder how many of these can survive. And the influence of so much money--vaporous as it may turn out to be--is never good on young companies. When are we going to learn that for good?
Facebook, MySpace, Power of Us, Social Media, TechCrunch, Web 2.0, bubble
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Tracked on July 11, 2006 09:58 PM
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Tracked on July 12, 2006 12:48 AM
But the stickiness factor for something like MySpace is greater than that of something like a craigslist or email service. Myspace didn't win my business because they have even a decent user experience (they don't), but because my friends are there. Why do I still use AOL Instant Messenger 8 years later even though that is a product that gets incrementally worse each generation and there are many better designed alternatives? Because my friends are there.
Posted by: Edward Aten at July 12, 2006 09:49 AM
seem like greed
Posted by: shon at September 13, 2006 07:03 PM