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Facebook Raises Another $25M

ScuttleMonkey posted more than 8 years ago | from the tech-money-is-back-in-style dept.

197

conq writes "BusinessWeek reports that Facebook has just raised another $25M from Venture Capital. Along the same lines, Rupert Murdoch has bought a minority stake in SimplyHired and just two days ago the social networking site, Visible Path said it raised $17M from Venture Capitals."

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Venture Capitals? (1)

Bob Cat - NYMPHS (313647) | more than 8 years ago | (#15159163)

Who are they?

Re:Venture Capitals? (4, Informative)

TallMatt (818744) | more than 8 years ago | (#15159302)

Venture capitals are usually funds that invest in business ventures at various stages. Some funds invest in the "seed stage" of a new business to get them started. Others come in after the busness is already started and doing pretty well to help sustain further growth and development. Once the venture capital fund invests in a business, they esentially own a portion of the business, and will require that the money they invest be paid out at a certain time. They will also take a precentage of the profits based on how much money they have put in.

Re:Venture Capitals? (1)

GoodOmens (904827) | more than 8 years ago | (#15159906)

I think he meant what group / person put up the money ;-)

Re:Venture Capitals? (1)

Bryansix (761547) | more than 8 years ago | (#15159939)

Funds that invest in the "seed stage" are usually called "Angel Investors" and they take on way more risk then most VC are willing to touch.

Re:Venture Capitals? (1)

sjbcfh (611594) | more than 8 years ago | (#15159989)

Good explanation of venture capital. However, the OP was making a (too?) subtle reference to the fact that ScuttleMonkey and the submitter are a couple of illiterate halfwits who seem to be lacking in anything close to a simple understanding of even the most basic rules of capitalization and grammar.

Re:Venture Capitals? (1)

Jeff DeMaagd (2015) | more than 8 years ago | (#15160023)

I think a bigger question is whether they have a business model and whether it is sustainable. With some of these companies the VC are funding, I just don't see the sustainability. I think YouTube got money recently, but I doubt YouTube will be worth anything once the money is gone.

Re:Venture Capitals? (1)

JPribe (946570) | more than 8 years ago | (#15159316)

Are you serious, or will this get modded +69 Funny???

More Importently (0)

Anonymous Coward | more than 8 years ago | (#15159459)

Where can I sign up for this money?

Re:Venture Capitals? (1)

nelsonal (549144) | more than 8 years ago | (#15159917)

Are they a semi pro hockey team that oddly splits its season in Sacremento and San Jose?

Under contruction? (0, Offtopic)

Aqua OS X (458522) | more than 8 years ago | (#15159168)

What's with these storied marked red and "under construction?"

Any else see that?

Re:Under contruction? (0)

Anonymous Coward | more than 8 years ago | (#15159281)

Did you get a one day subscription pass?

Re:Under contruction? (1)

Aqua OS X (458522) | more than 8 years ago | (#15159492)

Nope

I don't believe it... (1)

lasmith05 (578697) | more than 8 years ago | (#15159172)

Is facebook really that great? Everyone I know is on myspace, livejournal, and xanga.

Re:I don't believe it... (4, Funny)

netfool (623800) | more than 8 years ago | (#15159228)

Well, I think you need to be going to college in order to have a Facebook account. So, right there what, about 75-80% of Myspace users are ineligible.

Re:I don't believe it... (1)

schnikies79 (788746) | more than 8 years ago | (#15159282)

You need a valid college email address.

they also have a high school version of it, but i'm not sure how big it is.

Re:I don't believe it... (1)

pheco (957437) | more than 8 years ago | (#15159472)

You don't need to go to college, you just need to be an ugly loser with an internet connection.

Re:I don't believe it... (-1, Troll)

Anonymous Coward | more than 8 years ago | (#15159300)

Shit! You'd better call up those investors and tell them you think they may have made a mistake. I'm sure they'll be interested in your input, and will disregard all their research, market knowledge and experience to take your opinion on board. They don't need that stuff - they'll be much better off with a millisecond judgement from some fat arse low-life computer programmer reading slashot while drinking an energy drink (because he's about to run the maraton of writing another method in Java) and stuffing some junk food into filthy mouth. Slashdot: you do not know better. If I was one of you, I'd probably stick a cheeky 'TM' sign on the end of that to give emphasis.

Re:I don't believe it... (5, Informative)

koweja (922288) | more than 8 years ago | (#15159313)

Yeah, it is in some ways. Since it is limited to college students you don't get the pre-teen and young teenagers, so the quality of the pages is better. Plus Facebook uses templates for user pages so you don't have the fucked up and illegible pink text on fuscia background that you get on myspace, the background music, the scrolling text, etc. It's not perfect and there is a lot of stupidity and too many people trying to get 100,000+ people listed as thier friends.

Re:I don't believe it... (1)

Koiu Lpoi (632570) | more than 8 years ago | (#15159638)

There is, sadly, a high school facebook in the making.

Re:I don't believe it... (4, Informative)

beefstu01 (520880) | more than 8 years ago | (#15159339)

Just about everybody here at my college is on the Facebook, while damn near nobody does the MySpace/LiveJournal/etc... thing. Mind you that my school was one of the first to be on the Facebook, so that may have something to do with it.

The Facebook is really nice compared to everything else in that it has a very clean and uniform layout. Also, it's a bit exclusive, and in general the signal to noise ratio is just a bit better than on MySpace. You're able to avoid the high school students (well, for the most part...)

Re:I don't believe it... (1)

Dis*abstraction (967890) | more than 8 years ago | (#15159438)

My school was one of the first few as well, and the way things worked out, everyone with interests not restricted to drinking and fucking ended up migrating to MySpace, leaving thefacebook behind for the uptown white-bread toga party types. The advantage of MySpace (to turn your point around) is that you're able to avoid the meatheads. For the most part.

Re:I don't believe it... (1)

kayak334 (798077) | more than 8 years ago | (#15159535)

Is there something wrong with drinking and fucking?

Sorry, just had to ask. :) I know you said, "restricted to", yeah yeah...

Re:I don't believe it... (1)

Owls21 (935354) | more than 8 years ago | (#15159867)

Good-bye Facebook "meatheads," as you call them; Hello MySpace convicted sex offenders...

Re:I don't believe it... (1)

Tweekster (949766) | more than 8 years ago | (#15159384)

No, actually facebook is rather pointless. Oooh I add my friends to my list...oh wait I see these people every day anyways so why in the world would I bother messaging them (email equiv, nonrealtime) Facebook, is handy occasionally to get in touch with people and see whats happening, the other 99% people are just wasting hours on it. It is pretty damn pointless.

Re:I don't believe it... (0)

Anonymous Coward | more than 8 years ago | (#15159471)

Oh and MySpace is soo much less pointless.

What can you do on there besides pick up 14 year-old girls? I don't see how MySpace would be more useful than Facebook, except for pedophiles.

Re:I don't believe it... (0)

Anonymous Coward | more than 8 years ago | (#15159630)

What can you do on there besides pick up 14 year-old girls?


I thought that was the only reason to be on MySpace.

Re:I don't believe it... (1)

GoodOmens (904827) | more than 8 years ago | (#15159953)

Its more important now as I have graduated to keep tabs on where my friends are. I find it very usefull ;-)

Re:I don't believe it... (1, Troll)

Stiletto (12066) | more than 8 years ago | (#15159463)

Not to sound elitist, but I hope nobody _I_ know is "on" these sites.

If myspace, livejournal, etc. have taught us anything, it's that there are a lot of self-absorbed people out there. I mean seriously... how many people in the world are really so interesting or important that they need to make an entire site dedicated to themselves and fill the content up writing about themselves, their hobbies, their favorite things, and their imaginary friends?

It's sad really: the Internet leveled the publishing playing field, promising a level of collaboration and social networking that the world has never seen before. The actual result? Legions of self-centered attention whores posting articles about themselves and pictures of their dogs.

Re:I don't believe it... (1)

TriZz (941893) | more than 8 years ago | (#15159710)

What you've described is every personal website on the web.

Re:I don't believe it... (1)

chaoticgeek (874438) | more than 8 years ago | (#15159473)

I hate myspace. I don't blog, and all my friends have facebook, and not myspace. A huge portion on students on campus have both myspace and facebook; and livejournal and xanga. I know around here facebook is by far the most popular of all though for friends and pictures. Xanga is popular for bloging, and livejournal is for personal writings.

Re:I don't believe it... (1)

bobdapunk (190639) | more than 8 years ago | (#15159656)


who wants to join my facebook group "myspace is for people don't go to college"?

in reality my group is "myspace is for highschoolers who like ugly interfaces"

Re:I don't believe it... (2)

xlark (689369) | more than 8 years ago | (#15159747)

Facebook is about the strangest thing I have ever come across.

I don't know whether to call it great or frightening.

It's a time waster more than anything. When I have work to do, and I want to procrastinate I read other people's Facebook profiles. Some of these people I know very well, other's just happen to be listed as my friend through odd circumstance or what have you.

What's scary is that almost everyone in college has an account. I was back home the other day, and just for shits and giggles, I dug out my old high school year book (I moved half-way through high school, Texas to North Carolina. Except for a few, I haven't kept up with my old, Texas friends), and almost everybody in my grade had a profile!

My sisters' best friend's brother has a Facebook profile, My Grandparent's old friend's son has a Facebook profile. This girl I had a crush on in sixth grade has a profile. Fuckin' frightening.

And what's even more frightening is that Facebook is no longer limited to College students. There's a "high school" version which just requires a valid e-mail address. It used to be that the College and High School version were completely separate, but that's no longer the case. Disturbing.

Re:I don't believe it... (1)

Illbay (700081) | more than 8 years ago | (#15159812)

Everyone I know is on myspace, livejournal, and xanga.

Everyone you know is under the age of 18?

does anyone else hear it? (5, Funny)

beyonddeath (592751) | more than 8 years ago | (#15159178)

If you listen closely in the future i hear a loud BANG! as if a big bubble popped. maybe its just me tho!

Re:does anyone else hear it? (1)

Rob T Firefly (844560) | more than 8 years ago | (#15159297)

I hear it too. As though a million venture capitalists cried out, and were silenced...

Re:does anyone else hear it? (1)

JPribe (946570) | more than 8 years ago | (#15159364)

"You see Reverend Maynard, tomorrow is graduation day, and to them it IS the holocaust!"

Re:does anyone else hear it? (2, Interesting)

IAmTheDave (746256) | more than 8 years ago | (#15159925)

As though a million venture capitalists cried out, and were silenced...

Or as though a million venture capitalists lit a firecracker, held it in their hand, blew off their hand, smarted for a little bit, and lit a firecracker and held it in their other hand...

We've learned (ok, apparently only I have learned) that ad revenue does not a company make. Google lives off of it but only because its products are truely innovative to attract and retain a large audience.

Social networking is nice but not a huge money maker of any sustainable growth. Investing in these internet start ups with barely a business plan is going to result in the same thing it did the last time we went through this.

Aren't there any other companies to invest in? Ones with products?

Re:does anyone else hear it? (0)

Anonymous Coward | more than 8 years ago | (#15159356)

It's not popped yet, but there may be one building.

As someone who runs a small video blogging / social networking [vobbo.com] site, I promise you that there are VCs and investment banks all over this year.

First post facebook (-1, Troll)

Anonymous Coward | more than 8 years ago | (#15159179)

Facebook is lame. Hooray I got first post!

Facebook v. MySpace (0, Troll)

Dis*abstraction (967890) | more than 8 years ago | (#15159193)

Since I see so much bitching on this site over MySpace's perceived shittiness, I just wanted to point out that some of us actually appreciate the flexibility MySpace offers in customizing the appearance of our pages. It's a hell of a lot easier, too, than setting up your own domain with the blogs and friend features MySpace provides as a matter of course.

No, this is not a joke. Compaed to the circus of color, sound, and animation that is MySpace, Facebook is totally boring. I don't know anyone who still uses Facebook other than fratboys and squares.

Then again, I'm deaf and blind.

Re:Facebook v. MySpace (1)

lordandmaker (960504) | more than 8 years ago | (#15159232)

*gasp* isn't saying stuff like that on here in a similar vein to claiming that MS isn't actually the personification of Satan?

Re:Facebook v. MySpace (4, Funny)

OverlordQ (264228) | more than 8 years ago | (#15159301)

Yes I know I shouldn't feed the troll, but it's precisely because of that 'circus of color, sound, and animation' why so many people despise MySpace. Visiting a MySpace is like playing Russian Roulette, some pages may be benign, but some could scar you for life.

Then again, if you actually were deaf and blind, MySpace's customizability would probably break any sort of standards and thus could almost guarantee any any sort of braille interface would probably die in fits of laughter when it saw a MySpace profile.

Re:Facebook v. MySpace (1)

Dis*abstraction (967890) | more than 8 years ago | (#15159380)

I understand that attitude completely, but you have to understand there's (at least) two very camps of people: those who actively seek out spicy foods, and those who would reject oatmeal if it were too colorful. Certainly, the latter should stick to thefacebook if it offers them the sterile, sanitized environment they prefer. There's no shame in that.

Yeah, I'm painting in overly broad brush strokes, but so what? This is Slashdot, not a C-SPAN roundtable.

Re:Facebook v. MySpace (1)

OverlordQ (264228) | more than 8 years ago | (#15159412)

Wow, you must be BadAnalogyGuy in disguise!

Comparing food to website customizability is like comparing Apples to Non-Newtonian fluids, it makes no sense.

Facebook isn't a sterile, sanitized interface, it's a well put together clean and smooth interface that doesn't break and is consistent on every page you visit. It's the Google of the social networking sites.

MySpace on the other hand, good luck finding anything on a page, much less trying to find the stop button on JRandomCrapSong that plays when you load a profile, or any sort of standard navigation menu.

Again I digress, I should stop feeding the trolls.

Re:Facebook v. MySpace (1)

Dis*abstraction (967890) | more than 8 years ago | (#15159457)

Anyone who points out an alternative viewpoint is a "troll"? It's no wonder you can't handle MySpace.

Re:Facebook v. MySpace (5, Informative)

schnikies79 (788746) | more than 8 years ago | (#15159305)

Most people I know have both facebook and myspace. I personally can't stand myspace because the profiles are usually too cluttered to be readable. I'm also not a fan of 300 animations and a soundtrack starting up when I view someones profile.

Facebook has a clean, usuable apperance.

Re:Facebook v. MySpace (1)

nodeadlysins (963910) | more than 8 years ago | (#15159404)

Well, myspace isn't really that messy when you consider it's customizable. Granted most people do not take full advantage of this, but when they do I see profiles that look far better than the generic facebook profiles out there. With all these social networking sites popping up, I have to think that either A) someone will make a program that lets you manage them all OR B) some gold standard will arise, and most of the others will fade from usage(google-keeps-track-of-my-whole-life-and-sell s-it.com?)

Re:Facebook v. MySpace (4, Informative)

L7_ (645377) | more than 8 years ago | (#15159324)

the ability to mark uploaded pictures as other people alone is priceless.

for those that don't know: userA can upload pictures from an event onto thier facebook profile under EventX. Going through those pictures, they can label portions of the pictures as other users on the site. For instance, there is a picture of userB kissing userC, or another of userC throwing up. When you visit userC's profile, (assuming you are marked as thier friend) you can view all the pictures that other people labeled about them! When viewing those pictures, it then lists all the people in it...

It is 1000x better than anything that myspace has.

Re:Facebook v. MySpace (1)

lowrydr310 (830514) | more than 8 years ago | (#15159370)

I don't have the time to use Myspace or facebook regularly. It's nice to send a quick "hi" to an old friend or to get contact info, but I don't see how people can spend hours at a time playing around. I have a few friends who live in MySpace, constantly updating their profiles, uploading new pictures, or posting messages for their friends.

Call me old-fashioned, but the best way I stay in touch with my college friends (I graduated in 2002) is an email list, organized through Yahoo groups. It works great with my Gmail account, since replies are automatically grouped. Most of us on the list have a page at myspace and facebook, but the email list is the best way to communicate.

Re:Facebook v. MySpace (1, Troll)

posterlogo (943853) | more than 8 years ago | (#15159427)

I fully agree. For those who can invest the time to keep things updated at those social networking sites, I feel something has to give from their "real" lives. Not necessarily just the time, but the way of thinking about interactions with other people.

On a more critical note, let's face it, those people who are obsessed with myspace and facebook and make those sites what they are... well, it says something who's being targeted by all that venture capital.

On an even more critical note, jesus fucking christ -- has no one learned anything from the last burst bubble?

Re:Facebook v. MySpace (1)

sacdelta (135513) | more than 8 years ago | (#15159869)

No. They didn't. People have a short memory when it comes to disasters. It lasts less than 10 years. This year we had flooding in California and everyone is now going on about how this never happens and how could we have known we shouldn't have built there. The last event was 1997. The one before that was 1986. Each time it happens they suddenly remember about the last one. Come 2016 they'll have forgotten again.

Re:Facebook v. MySpace (1)

lowrydr310 (830514) | more than 8 years ago | (#15160026)

Have any real-estate market 'bubbles' burst any time in recent history? I know overall that many places in the US aren't terribly unaffordable at the moment, but in NY, CA, and many other desirable locations, prices are absurd (even with 6+% interest rates)!

I know southern CA real estate took a big hit in the early 90s because of the collapse of the Soviet Union and resultant cut in defense spending, but I don't see anything happening on that scale any time soon. Has the US real estate market as a whole ever suffered any serious decline? If so, what caused it?

Like most people my age where I live, the thought of homeownership is getting farther out of reach. The one thing that makes me feel a little better at the moment is that my rent is only slightly more than what an average homeowner would pay in property taxes here.

Re:Facebook v. MySpace (1)

nb caffeine (448698) | more than 8 years ago | (#15159611)

My group of friends keeps in touch a few different ways:

Email for planning bigger events (bachelor parties, etc)

AIM for planning what we are doing that weekend

Cell phones for planning what we are doing that night

Xbox Live for general BS/Gaming (bankshot billiards is great for casual game/bs with friends)

Hm, now that I think about it, that is alot of contact info to keep track of. Good think most of those services keep track of buddies/contact lists for you. I dont understand why cell phones don't do this yet.

Re:Facebook v. MySpace (2, Informative)

iny0urbrain (965352) | more than 8 years ago | (#15159390)

I don't think you quite understand the differences between Myspace & Facebook. I've used both, and I absolutely loathe Myspace at this point. I currently work at an educational institution, and the Facebook is amazingly widespread.

The way I see it, Myspace is like Frontpage or Geocities for the web of 1998. People are discovering how to "embed", "marquee", and rock out to their horrid animated gif background images. Finally people are saying "Hey, I have a website! Its at myspace.com/whatever!"

The Facebook is totally different. You cannot make your page play music, blink, or CSS the hell out of it. The Facebook is clean and extremely easy to navigate. The most interesting features in my mind are the following:

Bulk uploading of pictures - You can then tag them (by making boxes around people's faces) and later, you can search for that frat boy you've been wooing. You can then enjoy seeing him falling over drunk in 50 other people's photo galleries. At my particular school, the stats show that 1300 pictures have been uploaded today alone!

Pulse - This is simply an aggregator for everyone's favorite things (books, movies, etc). It functions like a stock exchange, and is updated daily. You can watch "Family Guy" move up the charts as more people add it as their favorite TV show. These kind of statistics (per school, no less) would be priceless to any marketing agency.

So sure, Myspace give you freedom to tinker with the ugly layout, but the Facebook revels in its simplicity and navigability. Its a well-built voluntary student directory, and it sure functions amazingly.

Re:Facebook v. MySpace (1)

Dis*abstraction (967890) | more than 8 years ago | (#15159526)

Don't get me wrong--I have, or had, a profile on thefacebook too--but isn't it telling about its audience that thefacebook enforces such a bland consistency? I mean, if you want a directory, use LDAP. There's nothing wrong with exploiting the Web to its full potential, and MySpace lets everyone do just that.

I've seen lots of MySpace profiles with piss-poor taste, but at least they give you the freedom to experiment. And I've seen many MySpace profiles that make the One Facebook Way look utterly repugnant by comparison.

thefacebook is a coop apartment building where the board imposes strict restrictions on your every move. MySpace is a converted open-plan warehouse with free spraypaints, a stage, a mike, and an invitation to do your worst.

Re:Facebook v. MySpace (1)

Illbay (700081) | more than 8 years ago | (#15159928)

...you can search for that frat boy you've been wooing. You can then enjoy seeing him falling over drunk in 50 other people's photo galleries.

Yesterday, the quote at the bottom of the /. page said something like:

"The girl with a future studiously avoids the man with a past."

You wanna write that down somewhere?

Re:Facebook v. MySpace (1)

MP3Chuck (652277) | more than 8 years ago | (#15159425)

Ability does not flexibility make ... sure, you can twist the mess of tables to different colors, but you're lucky if you have 1) background 2) table-body and 3)table-border colors. The result is indeed a circus, but the ringmaster's been trampeled by angry elephants.

Vendor Capital (0, Troll)

digitaldc (879047) | more than 8 years ago | (#15159194)

Don't worry, we will quickly burn through that $25 million of VC as soon as they put out the free chips, soda and candy.

Re:Vendor Capital (1)

crazyjeremy (857410) | more than 8 years ago | (#15159272)

What are some big Venture Capital blunders for this type of company post bubble?

More fad waving (1)

JPribe (946570) | more than 8 years ago | (#15159195)

Another example of a bad fad finding VC it shouldn't get...oh, and they have attracted big advertisers, like Jeep and M$...this isn't Google, the ads won't fund the company forever on a site like this...maybe they'll buy-out myspace or something????

Where does all that money go? (3, Interesting)

JaseOne (579683) | more than 8 years ago | (#15159241)

I see all these startups raising rediculous amounts of money and everytime I have to wonder what exactly is the money spent on? Does anyone know? How many developers does it take to maintain something like FaceBook? Just how expensive can their infraastructure and bandwidth be? It just boggles the mind that a site like that can raise so much in venture capital andit is even harder to see how they make enough profit to be able to provide a return on that investment.

Does advertising and/or subscription fees really make that much money for a site? I guess it is just tiny amounts of revenue but spread between LOTS of users.

Re:Where does all that money go? (1)

Skim123 (3322) | more than 8 years ago | (#15159437)

Well, if it's anything like the bubble days of the dot com era, the idea's not to make a profit on the site, per se, but to make the investment back selling ownership of the site through shares to the public. Or, more realistically, they may be hoping to sell "up" to a bigger fish (like MySpace sold out), who would probably hope to also either sell "up" or sell shares to the public.

Although who knows how much FaceBook makes. I was surprised to learn that WinZip was pulling in ~$23 MILLION/year [asharewarelife.com] .

Re:Where does all that money go? (1)

AuMatar (183847) | more than 8 years ago | (#15159664)

But winzip has low maintenance cost, and actually provides useful software. These social networking sites fail on both fronts.

Re:Where does all that money go? (1)

Skim123 (3322) | more than 8 years ago | (#15159998)

What's the expenses for FaceBook? A room full of developers and hosting fees? (Or is there a large marketing budget? I'm not too familiar with the site, being a number of years out of college...)

Also, WinZip's sales are in the face of Microsoft's inclusion of ZIP capabilities starting with Windows XP, IIRC, which came out when, 2001? I'm not saying that WinZip doesn't put out a useful product, but those numbers, to me, are impressive because over the past four years there has been a free alternative. (Granted, I pay to use WinRAR, but I'd fathom WinXP's ZIP capabilities are sufficient for 99.9% of computer users out there...)

Re:Where does all that money go? (1)

mypalmike (454265) | more than 8 years ago | (#15159504)

I have to wonder what exactly is the money spent on? Does anyone know?

I know. The answer is http://www.hermanmiller.com/aeron/ [hermanmiller.com]

Re:Where does all that money go? (1)

gavinjolly (584983) | more than 8 years ago | (#15159736)

At my last contract I had one of those chairs. They are fricken awesomely confortable. Your back doesnt sweat, legs/quads stay confortable even after long periods in the chair. Everything was adjustable and they are nice to look at.

Granted this was a bank trading department and the traders, and consequently associated staff, had the best of most things.

I miss that chair and none I have tried since comes clost for comport.

Re:Where does all that money go? (1)

catch23 (97972) | more than 8 years ago | (#15159801)

Those chairs are actually pretty cheap now, in comparison to other office chairs. You'd think that the fabric chairs would be hundreds cheaper, but actually the fabric simple-looking office chair that is in my office right now has a list price of $900. The Aeron chair can be bought new for $800 these days.

Re:Where does all that money go? (1)

mmkkbb (816035) | more than 8 years ago | (#15159562)

office rent, bandwidth bills, hardware, salaries, benefits, snacks and drinks, taxes, colocation, recruitment, utility bills, marketing, advertising, etc. etc.

Where is their office? (1)

JaseOne (579683) | more than 8 years ago | (#15159984)

The Trump Tower or something?

Re:Where does all that money go? (1, Insightful)

Anonymous Coward | more than 8 years ago | (#15159700)

They also gain cubic shit-tons of data about the interests of the people involved.

They have all kinds of pages that give you information broken down by colleges or about the majority of facebook in general. I imagine they have much more they don't tell us about. If I was marketing something to college students I have to say I'd give them my money.

Lots and lots of.. (1)

slashmojo (818930) | more than 8 years ago | (#15159950)

Lots of transatlantic first class flights and 5 star hotels for company directors (the vc's or their buddies) to attend 'important meetings' and discuss 'strategic partnerships'.

But who cares? The streets of web2.0 are paved with gold now.. start something and go raise some silly money of your own to ride the wave.. it wont last, it never does.. but maybe you will be lucky and your startup will survive.

If your startup doesn't survive its no big deal.. you got a year or two of fat vc financed salaries and perks and learned a few lessons to apply when the web3.0 bubble comes around.. which it will, sooner or later.

BOOM - Yea Baby! (0)

Anonymous Coward | more than 8 years ago | (#15159274)

Boom Baby Boom!

The Boom is back!

Rock on!

I've got an idea for selling online pregnancy testing over the web. Please send checks to ac@ftc.gov

As an orig dot-com worker I say... (1)

fak3r (917687) | more than 8 years ago | (#15159284)

What? Where is this money come from, and why do people think they can make money now over before? Before there were no proven business models, and fresh ideas, now things are all a carbon copy of whatever site Yahoo/Google just bought a few months back. I fail to see how they'll earn money in the long term, save for an aquisition.

Re:As an orig dot-com worker I say... (1)

geoffspear (692508) | more than 8 years ago | (#15159345)

I fail to see how they'll earn money in the long term, save for an aquisition.

You just answered your own question. They hope to be bought by someone big who thinks they can purchase the brand loyalty of the existing userbase and shift it to their own brand.

Plus, in Facebook's case, don't overlook the value of marketing data on millions of college students. Credit card companies alone will no doubt pay enough to reach these kids to make a healthy profit for the site.

high stakes poker? (1)

ch-chuck (9622) | more than 8 years ago | (#15159326)

I'll see your $25 mil and raise you another $10 mil.

Re:high stakes poker? (0)

Anonymous Coward | more than 8 years ago | (#15159440)

I'm sorry, that's a string bet and is not allowed.

Re:high stakes poker? (0)

Anonymous Coward | more than 8 years ago | (#15159596)

Not only is it a stringe bet, but you've got to raise at least the previous raise amount, so he's got to raise $25M more, not $10M more.

Re:high stakes poker? (1)

novus ordo (843883) | more than 8 years ago | (#15159585)

You're bluffing.

students? (2, Insightful)

celardore (844933) | more than 8 years ago | (#15159332)

I don't get where all the ad revenue comes from. These sites target the student demographic generally. Are students richer today than when I was in college or something?

I barely had enough money for a beer - let alone for spending on some product that I saw advertised on Facebook.

A call to my parents may be in order about the backdated pocket money I must be owed.

Re:students? (1)

antifoidulus (807088) | more than 8 years ago | (#15159441)

It depends. I met a LOT of SRK(stupid rich kids) at Penn State, but they are probably not the majority. The difference between when you went to school and today is probably lines of credit. Especially with the new bankruptcy laws in place, credit card companies are falling over eachother trying to market to college students promising free t-shirts, hoagies what have you. So kids(and I hate to say it, but I fell into this category too, then I got smart the hard way) are leaving college with huge amounts of credit card debt at insane interest rates. That is how they are getting all this extra money....
As a country the US is living on borrowed time...

Re:students? (1)

nb caffeine (448698) | more than 8 years ago | (#15159558)

Well, I wouldnt consider myself a SRK (nice acronym, coulda used that when I was in college). Went all 4 years without signing up for a CC. I answered phones at our help desk for beer monday, bought my own books, and paid for my education (at a small private uni) mostly myself. Still have plenty of loans, but the interest on the balance on those is a lot lower than all the frivilous purcahses I would have made with a credit card. Most of my friends wern't as wise. Hell, I'm a few years out and still don't have a credit card. Pay in cash, leave no trail :)

Re:students? (1)

middlemen (765373) | more than 8 years ago | (#15159848)

Pay in cash, leave no trail

As much as I dislike the use of credit cards, it is virtually impossible to buy anything over the internet without a credit card. Don't tell me to use PayPal, that is just another form of a credit card methodology.
The only thing that I buy from the net are books and electronic/computer parts and unfortunately there do not exist brick-&-mortar stores that sell these anymore. Best Buy, Radio Shack and its clones are an insult to an electronic/computer hardware hobbyist.
So yes, life without a credit card is impossible if you have to buy stuff from the internet. When I was in India a few years back, there exist a few streets in Mumbai/Bombay and Bangalore which are lined with tons of shops which sell only electronic/computer hardware. Even though there are only one or two streets per city, that is enough. And there is a great deal of choice there. That is one thing that I miss in the USA. E-commerce has some drawbacks. For example, I want to buy a "Happy Hacking" keyboard, but I have to buy it over the internet. Now how does one expect someone to buy a keyboard without feeling it and checking if it suits you or not !!

Re:students? (1)

Skim123 (3322) | more than 8 years ago | (#15159453)

Are students richer today than when I was in college or something?

Probably not, just more willing to go into credit card debt. Also, it may be the whole, "Get 'em while they're young" approach. Sure, the college student may not be in the market for a BMW today, but when they graduate, are single, and making a decent living, then that pre-advertising might start to pay off.

Re:students? (1)

Illbay (700081) | more than 8 years ago | (#15159873)

Are students richer today than when I was in college or something?

No. They're just far more likely to be heavily in debt [marypirg.org] .

A business education that will change your life (0)

Anonymous Coward | more than 8 years ago | (#15159360)

Launch a startup. Invent a product or service that *should* exist, but doesn't.

Spend two years achieving profitability, growing your primary sales channel, and expanding into future R&D.

Witness the miracle of capitalism: watch as your R&D staff design and invent things which put your initial product to shame.

Now that you have something to spend money on, try and go public, and raise a modest sum (say $4 million) to invest into carefully discussed and debated budgets.

As I discovered: this is an absolute fallacy.

Why are websites demanding billions of dollars these days? Because this is the same game in a different century.

Go flip on your favorite TV channel. Then take 15 min to find out who is running the show "behind the scenes". Repeat. Pretty soon these "media conspiracies" are flatout impossible to ignore.

My mistake was in thinking that, somehow, the Internet would be immune to the strip-mining animals who are destroying the America I love.

Sadly, it's not.

Keep the course, you're doing super! (2, Funny)

nemik (909434) | more than 8 years ago | (#15159361)

Way to go Facebook. Each extra million brings you closer to your pie in the sky. [slashdot.org]

Facebook (3, Interesting)

Anonymous Coward | more than 8 years ago | (#15159373)

I really love facebook, the ability to find anyone at my school if I need to contact them or want to know more about them is great. However, it has so many other cool features: being able to find long lost childhood friends, uploading photo albums, announcing meetings and cool events for on campus clubs etc.

The one thing facebook is really missing is a 'rate my professor' system. At the end of each semester a dialog should come up asking if you would like to rate your professors from that semester. Myspace has it for some reason, and some people at our school set up www.collegesucks.net but have professor ratings integrated into facebook is a no brainer.

damn! (2, Funny)

utexaspunk (527541) | more than 8 years ago | (#15159385)

I need to start my own social networking site! Apparently teenagers will sign up for anything, and people just throw money at you if you own one, no matter how obscure it is! Awesome!

Facebook turning into ad-book (4, Interesting)

192939495969798999 (58312) | more than 8 years ago | (#15159415)

They're trying to convert it to a big demographic study/advertisement thing. They recently have this area where you can pick your favorite brands or products. Who in the hell cares what products or brands are my favorite, and why would I advertise that from my profile unless I was being paid something for click-thru or whatever? Totally awful exploitation of the customer base, IMHO.

Re:Facebook turning into ad-book (2, Interesting)

darjen (879890) | more than 8 years ago | (#15159813)

It seems like having people's interests on there is kind of the whole point of social networking though. I actually found things out about regular friends that I didn't even know by reading their Facebook profiles. But, I personally don't put all that much info on mine. And as soon as it turns into a glut of advertising I'll probably stop using it.

And it's not exactly exploitation when people are giving up their information to build networks of friends. It's an exchange of value where both parties are benefitting. Ah, the gloriy of markets.

Facebook Justification for $25 Mil (5, Informative)

lababidi (879163) | more than 8 years ago | (#15159508)

Facebook's infratstructure is getting overwhelmingly big. They included a photo uploading section because, well people obviously love photos. But their original plan was to distribute the photo load by allowing users to locally host their photos and use a program called Wirehog (I believe) to turn their computer into a share point. This failed because of the complexity and security. The also are looking to hire many people to code and develop as well as maintain their servers (stripped down fedora). I'm not sure what their profits are, but this 25 mil sounds really justified.

Re:Facebook Justification for $25 Mil (1)

nelsonal (549144) | more than 8 years ago | (#15159974)

I think Murdoch paid $600 million for myspace. Even if we presume the next media billionare is only half as demented, unless they got well under 10% of the company $25 million will probably do very well. The VCs weren't buying this for the profits and dividends.

The future of social networking on the web. (4, Interesting)

dominion (3153) | more than 8 years ago | (#15159521)

To be honest, one of the reasons I started Appleseed [sourceforge.net] is because of all of the ads that people are bombarded with on sites like MySpace. The whole experience just seems crass.

Right now, social networking is being approached as if the users involved are merely demographics, potential markets, or advertising recipients. And that's really kind of sad for a technology which has so much sociological, political, and even economic potential for change.

I really honestly think that we won't see real social networking until we have an network of open source websites which all work together using some kind of standard commication protocol. Would the web itself have worked if there had only been six or 7 places to host a website? Where would email be if you had a dozen different proprietary methods for sending and recieving?

Why is social networking any different? MySpace, Friendster, Facebook, as far as I'm concerned, these are all the proof-of-concepts, but they're not the way the future will look.

Social networking, by definition, can not be monolithic and centrally controlled.

Re:The future of social networking on the web. (1)

mmkkbb (816035) | more than 8 years ago | (#15159579)

You mean something openid [openid.net] ?

also, your website spits out this:

Warning: main(inc/header.inc): failed to open stream: No such file or directory in /home/groups/a/ap/appleseed/htdocs/index.php on line 2

Warning: main(): Failed opening 'inc/header.inc' for inclusion (include_path='') in /home/groups/a/ap/appleseed/htdocs/index.php on line 2

Re:The future of social networking on the web. (1)

dominion (3153) | more than 8 years ago | (#15159600)

You mean something openid?

Yes. Appleseed will probably utilize openid.

Warning: main(inc/header.inc): failed to open stream: No such file or directory in /home/groups/a/ap/appleseed/htdocs/index.php on line 2

Hit refresh. I'm not exactly sure why Sourceforge has a problem with includes like that, but the problem is random and disappears by refreshing the site.

Oh yeah, Baby!!! (1)

DoctorPepper (92269) | more than 8 years ago | (#15159742)

There's nothing like the smell of burning Venture Capital in the morning!!!

In-cubicle massages will be commencing in: 5...4...3...

The only reason I use Facebook (0)

Anonymous Coward | more than 8 years ago | (#15159746)

is for birthdays.

Facebook, tool of the administration (5, Interesting)

everett (154868) | more than 8 years ago | (#15159775)

Before I begin, a brief introduction. I'm a member of a fraternity that in years past has run afoul of certain members of my schools administration, nothing terrible, but the end result being that we became unrecognized by greek life. This occured around 1998, and at the time we were a small chapter and nobody was really bugged by it. Since then we've done better with our recruiting and are again at a size where we've begun the process of being re-recognized with our campus' greek life; however, one of the major obstacles we had to overcome was our public image with the administration.

We realised, as I'm sure lots of college students eventaully will, that it's not just students on facebook, but rather anyone that can get an email address from the school, including campus police, administration, greek life, etc.

One of our brothers, notorious for his "liberal" views on drugs and alcohol (college kids do these things, even frat boys???) created a facebook group for our fraternity, and invited all the brothers to join. Several of whom were members of other groups with wonderful titles like "4:20 all day", "Keg stand team", "Party 24/7", you get the idea.

One day we recieved word from the administration that they were considering us for reinstatement on campus, however they strongly suggested we cleaned up our facebook profiles before we submitted our paperwork because, this person felt, that the image we were presenting of ourselves was not conducive to our being reinstated on campus.

I've heard worse horror stories where students have even been brought up on judicial charges for pictures posted to some facebook profiles.

Also employers who are alumnus of universities on facebook have begun using it as a tool for researching potential hires, all stuff to keep in mind, and nothing on the internet is private so be careful what sort of image you project about yourself. While it might make you seem cool now, in four years time you may be hating yourself or that person you really aren't.

Music (0)

Anonymous Coward | more than 8 years ago | (#15160010)

One of the clear advantages of myspace, as has been discussed before, is the ability to add recorded songs in the profiles. Do you think some of the money might be going towards investment in inclusion of other forms of media? Videos possibly too? They snuck in the addition of photos and there seems to be no restrictions.

Single Unifier (1)

Lord_Dweomer (648696) | more than 8 years ago | (#15160022)

One of the things I've noticed is the same thing that happened with P2P apps once the legal issues started arising....they branched off.

What happened then was that while the features and everything were all new and great, unfortunately the thing that had made those systems initially great was their large user bases. This is the same thing with social networking sites.

What I'm wondering is if there are any plans for something that can merge the data between them...kind of like an aggregator between all of your social networking sites you are signed up on.

Why should I have to go to 15 different sites to check my messages and scrapbook entries when there could be a way for me to go to one site that has my login info for all those sites and aggregates them nicely....perhaps in an RSS feed.

I guess the only thing really preventing this kind of interoperability is the proprietary nature of these sites and the fact that their business models rely on you visiting their sites and being bombarded with ads.

But can anybody here think of a way around that? Perhaps there could be some sort of software that lets you drop a line of code into the CSS of your page and have it send updates to your aggregator feed or something. Any body have any info on this? I'd prefer your comments over your mod points.

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