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Social Media Update – March 4, 2011

March 4, 2011

Good morning. Facebook seems to be an anomaly of sorts in the sense that it increases in value by the billions for no apparent reason. The latest evaluation seems to put the company’s value at $65 billion and for no other reason than traders really want the stock. It must be nice to be Mark Z. A great article on social media etiquette reminds us that the social space, all be it fun is still a place to conduct yourself in a professional manner. More business professionals, C-level executives and celebs are getting negative attention due to inappropriate comments and posts on social sites. This stuff lasts forever and the whole world can see it, but we forget that at times. The folks at OMMA recently tried to put a value on a Facebook fan, and while they didn’t come up with a hard number the statistics that were shared were really compelling. With his crazy tweets, #tigerblood, and #winning hasttags, Charlie Sheen has propelled himself into the Guinness book of Records for the faster person to reach 1 million fans. The actor seems smitten with twitter since he opened his account a few days ago and he was able to reach the 1 million followers milestone in just over a day. Enjoy.

I. Now Facebook Is Worth $65 Billion, businessinsider.com, March 4, 2011
II. Social Media Engagement: The Old Rules of Business Still Apply, socialmediatoday.com, March 3, 2011
III. OMMA Global – What Is the Worth of a Facebook Fan?, socialmediatoday.com, March 2, 2011
IV. Charlie Sheen sets new Guinness World Record for Twitter, cnn.com, March 3, 2011
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I. Now Facebook Is Worth $65 Billion, businessinsider.com, March 4, 2011
http://www.businessinsider.com/facebook-65-billion-2011-3
An investment by General Atlantic, a big fund, values Facebook at $65 billion, CNBC reports.
This is not a financing round for Facebook but a secondary sale. General Atlantic is buying 0.1%, or $65 million, which isn’t a big deal for a $17 billion fund. The deal is still subject to approval by Facebook, who has a right of first refusal on secondary sales.
There’s clearly a trend among fund managers that they want to be able to brag that they have Facebook stock. This seems to be what this is about.

II. Social Media Engagement: The Old Rules of Business Still Apply, socialmediatoday.com, March 3, 2011
http://om.ly/BOOAa
Interesting topic of discussion came up last night whilst having dinner with a fantastic, wise, savvy business contact. That of business, business rules, new media, and social media engagement – and how they all interact and relate to each other. It’s a tricky one. Recently on Facebook, for example, we both noted a number of highly-public spats on businesspeoples’ Profile Walls, some of which had become very personal, very negative, and on one occasion, very slanderous

III. OMMA Global – What Is the Worth of a Facebook Fan?, socialmediatoday.com, March 2, 2011
http://om.ly/BONqm
Interesting panel at MediaPost’s OMMA Global yesterday, which sought to answer the question many marketers have been grappling with — what is the actual meaning and value of online fans? Very timely topic given many global brands now command fan bases as high as 20 million and are expected to double their investment in advertising on Facebook this year to over four billion. And as Justin Kistner from Webtrends highlighted in his preceding presentation, 35% of consumers buy more after becoming a fan of a brand on Facebook, and ads aimed at fans enjoy an average click through rate (CTR) is 35% compared to 7% in regular online ads. With stats this high, it’s no wonder brands need to start taking Facebook fans more seriously.

IV. Charlie Sheen sets new Guinness World Record for Twitter, cnn.com, March 3, 2011
http://www.cnn.com/2011/TECH/social.media/03/03/charlie.sheen.twitter/index.html
Charlie Sheen may or may not be “winning,” in life, but he has won a rare honor: the “Fastest Time to Reach 1 Million Followers” Guinness World Record.
Guinness community manager Dan Barrett says the agency “just researched and approved” the record this morning. According to Barrett, Sheen reached that milestone in 25 hours and 17 minutes.
As of this writing, Sheen’s Twitter account, @CharlieSheen, has more than 1.3 million followers.
Guinness did not have a previous record for that category, Barrett says. Sheen also set a Guinness record for “Highest Paid TV Actor Per Episode — Current” at $1.25 million.

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