Investment fund GSV Capital has just paid $6.6 million for 225,000 shares of Facebook, the social networking site. The deal values Facebook at roughtly $69b. So, the site we all share our photos have appreciated in value this year by $19b since Goldman Sachs investment this January valued it at $50b.
Facebook is simply the only giant standing. Its business will be difficult to break due to network effects where the more people on the site, the better. It is expected to go public next week with the success of LinkedIn, Pandora (the online music sharing site), and now Zynga hoping to raise $1b in an IPO.