Social media may be next tech bubble

The recent market frenzy about Facebook is fuelling fears of another dotcom crash, writes Adrian Weckler

8th January, 2011

The recent market frenzy about Facebook is fuelling fears of another dotcom crash, writes Adrian Weckler

Economists are warning of a new economic bubble around social media companies, following last week’s $50 billion (€38.5 billion) valuation of Facebook.

Last week the online giant, which has more than one million Irish users and 600million global users, received a $450 million (€347 million) cash injection from Goldman Sachs and its private clients.

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