Private company valuations on SecondMarket (and other similar “exchanges”) make for great blog fodder, but I’m not sure I buy into the hype. The latest result for Facebook is a $25 billion valuation … for a company that celebrated being cash flow positive a year ago and has yet to turn a profit.
Queue the sock puppets and launch a black rocket. It’s 1999 all over again.
Let’s compare it to the actual values of public companies like AOL ($2.3 billion) and Yahoo! ($21 billion), as reported by TechCrunch today. Facebook at $25 billion without any real liquidity? I’m having trouble stomaching that one. Of course, I’m something of a skeptic, so take my opinions with a grain of salt.
Just how the hell did Raytheon land in the #2 spot? And, it’s #8 overall! Microsoft may seem surprising, but it really makes sense, given that it’s packed with professionals and has employees who are more likely to be on the leading edge. Over at Mashable, there are a few more charts about social media adoption that will blow your mind.
Legendary software firm Microsoft, the people who brought you Windows 7, is about to cut another 800 jobs. The company announced it was letting 5,000 people go back in January. Lou Gellos, a spokesman for the company, said yesterday that the chopping will happen around the world. No specifics are being given. This was the first year that Microsoft has had major layoffs. At the end of last year, 94,000 people worked at Microsoft. Three quarters later, the employee population dropped to 91,000, suggesting that another 2,000 people were hired along the way (for a net loss until then of 3,000 jobs).