Facebook, Groupon and Twitter Prove Value of Digital Economy
Just two short years ago Facebook was an oddity known mainly to college students and internet geeks, Groupon was largely unknown and Twitter was something no one beyond Brit comedian Stephen Fry could understand.
Fast forward to the present and Groupon slaps Google in the face by rejecting an unprecedented $6 billion offer Facebook hits the $65 billion mark and Twitter gets to say ‘No’ to Facebook and play tootsie with Google over a possible multi-billion dollar deal.
The larger-than-telephone-number price tags and queues of potential investors with seemingly bottomless pockets are a sure sign of the digital economy’s defiance of the global economic downturn. Whatever you may think these pieces of digital real estate are really worth the sure thing is that the web has become the natural refuge of every redundancy package recipient and moonlighting entrepreneur with half an idea on how to make money online. The net result is that we live in a transformed, borderless, always-on world.
Facebook has become the digital frontier’s largest, single, walled garden where 600 million users spending the largest chunk of their online time there are a prize companies and marketers are finding hard to resist. Twitter has proved its worth in being the real-time web’s ultimate news byte machine, bringing news across closed borders in real time with the same ease it carries Charlie Sheen’s fevered tweets and Groupon has managed to crack the Holy Grail of commerce successfully bridging the digital economy with local, offline business and aiming for a 2011 flotation on the stock market.Continued on the next page