Monday, June 1, 2009

There might be something in this social media after all.

Last week, Russia's Digital Sky Technologies paid US $200 million for a tad less than 2% of Facebook, valuing the social network site at $10 billion. Which sounds like a lot while argument still rages about Facebook's lack of ability to carry advertising or deliver sustained, mass-market advertising results. But what the Ruskis might have worked out, that most of us have not, is that Facebook represents not just another medium to flog a sales message, but rather a tell-tale of how technology is changing the way companies communicte with their customers. A smarter man than me explains it all here.

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