Facebook Basking in Glory

    August 18, 2008
    Chris Crum

It seems Facebook is all the rage, and MySpace is so over.

At least that’s the impression you’d get perusing news articles about them.

For example, you might read that News Corp-owned Fox News prefers Facebook over News Corp.-owned MySpace, because Facebook allegedly has a "more sophisticated" crowd.

Facebook has recently gained the larger worldwide market share and is gaining on MySpace in the United States, reports Mashable.

MySpace on the other hand has pretty much stopped growing.

At this rate, it’s a good thing that MySpace partner Google has being Google to fall back on.

With Facebook so clearly the hot ticket right now, experts are still having a hard time putting a value on it.

"The popular site — the fourth most trafficked Web site in the world, according to comScore — is a private company whose valuation has been estimated to be anywhere between $2 billion and $15 billion," writes Debra Borchardt at The Street.

Perhaps they’ll go public and astonish us all with their true value.

In the meantime, I don’t think MySpace enthusiasts should be too down in the dumps because of Facebook’s attention. All it takes is one hot idea and the bandwagon may shift again; after all, MySpace is still on top in the U.S.