Web 2.0 show must go on
INTERNET experts are feverishly speculating about which young startup will be the next YouTube, the Web video phenom that recently sold itself to Google for $1.65 billion.
Hundreds of young startups are currently vying for precious venture capital, especially from a shop such as Michael Moritz's legendary Sequoia Capital, in hopes that they will be able to sit in the exalted Silicon Valley Denny's booth where Google founders Larry Page and Sergey Brin bought out YouTube.
Because the venture-capital process is secretive, as are takeover negotiations, the handicapping going on is highly speculative, with seemingly outlandish valuations being placed on companies with little or no revenue.
Some of the valuations given in New York Post:
Facebook.com - $1B
Gawker Media - $400M
Craiglist.com - $250M (was not for sale?!) (devalued in our view)
Digg.com - $250M (a bit overvalued in our view)
Heavy.com - $100M (a bit overvalued in our view)
Popsugar.com - $100M (a lot overvalued in our view)Kayak.com - $50M (devalued in our view)
Friendster.com - $25M (really devalued in our view)More from those two sources: