Speaking of Facebook, David Heinemeier Hansson takes issues with reports that Facebook — still a private company — has a valuation of $33 billion. Over on Hacker News, Joel Spolsky says DHH doesn’t know what he’s talking about.
DHH’s most interesting point — which was news to me — is that Facebook took another $120 million round of venture capital just three months ago. But in the Hacker News thread, commenters point out that it was not another round of funding; it was $120 million in purchases of existing shares — cash for the founders, not funding for the company.
Bottom line: there are a lot of people who think Facebook is the next Google, but there are others who think it’s the next MySpace.
★ Thursday, 23 September 2010