Facebook not worth $50B: poll
INTERNET • Facebook Inc. isn’t worth $50 billion, according to a poll of global investors that shows skepticism about Goldman Sachs Group Inc.’ s recent estimate of the largest social-networking site’s value and concern that a bubble may be forming in the technology sector.
Sixty-nine per cent of investors say Facebook is overvalued after Goldman Sachs invested $450 million in a deal that put the company’s worth at $50 billion, according to the quarterly poll of 1,000 Bloomberg customers who are investors, traders or analysts. Only 10 per cent of respondents say Facebook’s valuation is appropriate; 4 per cent say it’s worth more.
The Bloomberg Global Poll conducted Jan. 21-24 shows that investors disagree with Goldman Sachs’ assessment that Facebook is worth more than Web pioneers such as Yahoo! Inc., the biggest web portal, and eBay Inc., owner of the biggest online retail marketplace.
Palo Alto, Calif.-based Facebook surpassed Yahoo! in October as the third most visited website in the world.