Why hasn't FaceBook gone public yet? If they do I will buy their stock considering I spend about 5 hours daily on FaceBook compared to about an hour a day on all other sites combined (Yahoo, Google, Twitter, MySpace etc.).
Google has a market cap of about $200 billion, so I would thin FaceBook would have a market cap of at least $75 billion. So why haven't they gone public?
They need to monetize their site...it took Google over 3 years to break-even on Youtube....In 2009, Facebook's revenue was about $500M....They need to show revenue growth of well over several hundred percent to justify $10B dollar market cap (20X sales).....and I doubt that Facebook can even get $1B in revenue in 2010.
Bottomline: To get high multiple they need very high growth and 2010 will be their year to prove that....I expect them to fail.