Today Facebook debuts on the Nasdaq stock market in the US at $38 a share and will be valued at $104bn, netting Mark Zuckerburg $19bn. Yesterday we heard that Pinterest could be valued at $1.5bn. Recently, iPhone app Instagram was bought by Facebook for $1bn.
Social media has become embedded into our everyday lives, into business, the media and Government. It’s why the companies behind the technology are deemed such prized commodities at the moment. While the disruption that social media services have caused is indisputable, whether these services are so deeply meshed into our existence that they really are long term financially viable propositions is less clear. Is the age of sharing going to finish as quickly as it started?
To coin a phrase, if looks like a bubble, and acts like a bubble, it probably is a bubble.