Social Media Update

Facebook Valued at $50 Billion

According to Goldman Sachs Facebook may be worth $50bn, a sum that values every Facebook user at $100. Putting this in context, that makes Facebook bigger than Time Warner, but still lagging behind Apple and Google. Is it worth it? “When you have one out of every 12 people in the world using your service, it doesn’t really matter how much you make off of each one as long as you’re making something”, says Nick Jackson at The Atlantic.

Facebook's $50 Billion Valuation

Facebook's $50 Billion Valuation

No surprise, then, that the Winklevoss twins are reconsidering their former $65m settlement – who wouldn’t want a piece of that pie? At the same time, Myspace has announced 60% redundancies, culling up to 600 jobs.

Quora

Quora: everyone’s talking about it, no one’s sure why. Quora is a simple Q&A style website that allows users to post and answer questions, much like Yahoo! Answers, LinkedIn Answers and even Facebook Questions. The big question is how to maintain high quality contributions: unless Quora finds an answer, it will quickly become about as useful as its spoof sibling, Cwora.

The 2010 Mashable Awards

Results are in for the 2010 Mashable Awards. Notable winners include: Foursquare, Best Location Based Service; Angry Birds, Best Mobile Game; Hootsuite, Best Social Media Management Tool; and Twitter, for Breakthrough Website Design. No awards for Facebook this year… Check out the full list here.

Josh Groban Sings Kanye West Tweets

An inspired mashup: Josh Groban, adored by mothers and grandmothers the world over, has set to music the wise words of Kanye West. (If you need any translation, please refer to Queen’s English 50c.)

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