Facebook.com To Fetch $2 Billion?
About six months ago I was working with two mates here in Australia to get an aussie version of the university social networking site, Facebook.com, set up in order to beat them to this market. Unfortunately due to various personal concerns the project was closed.
A short three months later and Facebook went and opened up doors in Australia. It was always going to be tough to beat them to the market down under since they had a proven system which just needed to be replicated for Australia. We had to build the system from scratch and well, I doubt we would have had a working site in three months anyway.
I’m not entirely sure how well Facebook is doing in Australia but I know they, err, face competition. A huge Australian highschool community site, Bored of Studies, recently opened up a fairly obvious clone of Facebook called The People Album and I expect with access to their substantially sized established community will have a healthy jump on Facebook.
Despite the potential issues down under things are looking pretty good for Facebook. In the last week there’s been a bit of buzz circulating about the site having recently turned down a $750 million dollar offer and instead looking for a buyer willing to spend $2 billion. That’s for a company started two years ago. Not bad growth, eh.
