I'm curious of Arrington has a source on that figure. 10s of millions seems insane for a new service that, from the outside looking in, seems easy to replicate

I'm curious of Arrington has a source on that figure. 10s of millions seems insane for a new service that, from the outside looking in, seems easy to replicate, other than the domain name... If someone can explain why it's worth even millions at this moment, I'd love to hear it.