That's is what I meant when I said 33.33 does not seem like a stretch- seems low. I doubt they made the valuation based solely on how many users they have, me

That's is what I meant when I said 33.33 does not seem like a stretch- seems low. I doubt they made the valuation based solely on how many users they have, meaning that they are really valuing their users at <33.33. The thing is there are so many cool ways to exploit the data that it is tough for people not to give them a multi-billion dollar valuation. They are basically Google without a proven data mining strategy and business plan. 4 billion dollars seems high I admit. I think another thing you have to look at is how valuable fb could be in the "right" hands i.e. someone who is focused on revenue rather than growth. Then the multi-billion dollar valuation becomes more realistic when you think about what a Microsoft, Yahoo, or Google with do with that data.