Facebook, the college social networking site, and a phenom I wrote about for Business 2.0 is apparently on the block. Business Week reports that the company is looking to get close to $2 billion, and had passed on a $750 million offer. Well, I think they should have taken the $750 million. Why?
Just look at their Alexa stats for past three months. They are stagnating like my new year resolution to lose 50 pounds. Over past three months, the daily pageviews and the daily reach are range bound, and the daily traffic trends are not encouraging as well.
From what I have heard is that the company is considering opening up its network to the non-core audience, aka young people who are not in colleges etc. I think doing so would be disastrous for the company. It would become yet another social network, which would get spanked by MySpace, which is still defying the odds, staying firmly perched in the stratosphere.