Huge bidding war between Microsoft, NewsCorp, Yahoo, and Google over social networking site facebook.com created by 22 year old Mark Elliot Zuckerberg.
sad sad sad, I think in an interview a while back he didnt want to get rid of it for nothing less than $2,000,000,000. Kid is 22 and owns 30% of the company. He also made the deal that if its bought out that he will still have the right to control the company. I think these social networking sites as big as they are will one day be a thing of the past. I think GOOGLE paid way too much for youtube, I think it was a stupid move. For a yahoo, google or microsoft to develop a social networking site would cost next to nothing. I believe AOL developed something along the lines of a social networking site about 6 months ago. As for Facebook I would take any amount now. Take it quick and laugh all the way to the bank..... There is another site that was started by two teens about a year ago that is growing at about 5000 members a day, start up cost $250,000....why pay a few billion for a site that costs only a couple of hundred thousand to start. If teens can start a website and build it up to 2 million members I think a fortune 500 company can do the same without a problem...
And didn't they also have video.google.com before they bought youtube? Horizontal Integration. So stupid.