2 Billion for Facebook?

4 pm: I watched CNBC while running on the treadmill in the gym. I learned that Facebook.com just turned down a $750 million offer, and rumored to be mulling a $2 billion deal. I almost fell out of the treadmill.

5pm: Went back to my apartment, Googled facebook.com, and read some more stories. Signed up for Facebook.com to see what this thing is all about. Someone in my choir mentioned it longtime ago. Could not find any Andersonites, so looked for some undergrad friends and checked out some features.

Few weeks ago, I would just laugh this story off. But I just want to know more what the hell this thing is all about. Murdoch's News Corp. paid $500 mill for myspace.com, and e-harmony got $110 mill funding. Learned that the founders set up the site in 2004 with only $84, and then got $12 mill funding. Calculation: IRR= ridiculous.

Maybe there is a lot of money to be made form this social networking, or maybe the bubble is really back (knock on wood). Well, let's wait and see.

Random thoughts:
Rumor has it Viacom's the serious bidder, (thank God I don't have that thing in my portfolio, put option anyone???).

I thought Friendster was ahead in the game, but I wonder why it didn't get the buzz like myspace or facebook.

Lastly: How the hell this thing got 7th highest page views on the internet? Humm... wondering who else's in the list.