From Gulf News, on the business of Facebook:
Peter Thiel, a founder of PayPal, the online funds transfer system who is Facebook's second biggest investor, says the company's backers think it is worth $8 billion-$10 billion.
Are predictions that Facebook will join the ranks of Google and Yahoo atop the list of internet titans merely a symptom of a new internet bubble around online media companies?
"Right now everyone is saying Facebook is the next big thing," says another investor in the company. "I think that's great, I think it's really interesting, but they're not Google yet."
Nonetheless, the buzz around Facebook is increasingly reminiscent of that surrounding Google in the days before the internet search company went public in 2004.
- Garry J. Wise, Toronto
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