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To those saying they don't see how Facebook can be so valuable or why advertisers would pay money to advertise on there... there are entire industries that revolve around buying ad-space on Facebook in order to generate leads for selling a product. I know two people in particular that have a team of people advertising products on Facebook. One of them told me that he spends upwards of $2000/day in FB advertising.
Then tack on companies that make games on Facebook and pay royalties. Zynga is an online gaming company that was basically created to design games and generate revenue through FB. They now have a few thousand employees and are traded on NASDAQ.
Facebook is now an industry in and of itself.
How do you guys think Google got so big? It is 100% thanks to their advertising model.
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