Wikipedia estimates that Facebook has 47 million active users, as of this month. If, as reported widely, its founders believe it’s worth $15 billion, each active user account is worth around $319.15. That’s old valuation math, though–bog-standard cost of acquisition. Facebook is something new. It’s a platform for hosting applications to take advantage of 47 million users who like to poke each other electronically.
As far as I can tell, the second best reason to use Facebook is the Facebook Zombie Application, which lets you bite 20 of your friends every day to turn them into zombies too. (The best reason, according to my contacts in institutions of higher learning, is to watch the friend list of your next potential significant other to see if your rival gets more attention than you do.)
If every active Facebook account signed up for the Zombie app, the value of the site becomes approximately $15.98 per daily zombie bite. This introduces new funding models for publicly traded platform-only companies in a new economy; perhaps class A shares could eschew zombie bites in favor of voting privileges, class B shares could transition from zombie bites to voting privileges over a vesting period, and class C shares could get additional zombie bites.
I wonder if they’ll have to extend EBITDA to include decapitation, though….