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Daily Freeman Life Editor Ivan Lajara talks about journalism, living in the Hudson Valley, language, the Web, cats and even politics. But he shouldn't.

Wednesday, October 24, 2007

300 virtual greenbacks

Today, Microsoft bought 1.6 percent of the online networking site Facebook, which was created by a Harvard dude in his dorm room four years ago.

Bill Gates’ company paid $240 million to 23-year-old Mark Zuckerberg, which technically puts Facebook’s worth at about $15 billion. A year ago, Yahoo offered $1 billion for the site. Zuckerberg must be very happy he refused that offer.

If you wanted to know, that deal values each Facebook member at about $300, virtually speaking, of course.

But don’t party like it’s 1999, because he whole thing may be a bubble, just like in 1999.
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