I find the valuation of Facebook app companies to be totally off the charts. I mean, what’re they making money from—text ads?
The $50 million investment is in Slide, Inc., proprietors of the Top Friends app. Top Friends attempts to drive up stats by doing things like emailing people’s friends, “Sarah just updated her mood!” I know it’s a tough marketplace but come on.
Reminds me of this Hugh Mcleod cartoon:
“It wasn’t a venture fund. It was a fifty million dollar sympathy fuck.”
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