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Facebook gets in MySpace's face: targets high schools

facebook.jpgFacebook, the Palo Alto company that has all but sewn up the U.S college market with its online social networking offering, today announced it is going after U.S. high schools.

This is what he had hinted at in our post last week.

The high school offering is a separate product: High school students get to fill out profiles and connect with other students at their own school or friends at other schools. But it is not integrated into the college product.

Call it Facebook's end-of-summer surprise. They've been working on it feverishly. In fact, we had a hard time reaching CEO Mark Zuckerberg for our story last week, because he was in "lock-down" mode, basically where he had a sign on the door saying no one can bother him. Clearly, this is a move that treads more on MySpace's turf. "They have a lot of high school users," Zuckerberg acknowledged in our interview.

Btw, the NYT has a good story that includes a look at Facebook, suggesting is part of a group of companies where the valuations, or the value the venture capitalists agree upon when they invest in the companies, are a bit bubbly.

Among venture capitalists it's a poorly kept secret that Facebook's valuation came in just shy of $100 million. Assuming that's true (Mr. Breyer declined to say), Accel paid a little more than $12 million for roughly a 15 percent share. Which is a very steep price for a company that even Mr. Breyer acknowledges is a risky venture.

However, we've talked with others who think the valuation is reasonable for the sort of traction Facebook has. The NYT notes that about a dozen firms competed to invest in Facebook. We talked with Zuckerberg about why he turned down an investment from Don Graham, of the Washington Post -- who had become a friend of Zuckerbergs. Zuckerberg said he'd been committed to taking money from the Post, but that Breyer made a slightly better offer. Zuckerberg was torn, but Graham counseled him to take the money from Accel.


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Comments

this was slightly interesting the first time around when it was called classmates. yawn.

anony-mouse on September 2, 2005 10:55 PM
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apaprently you couldnt be more wrong, seeing as classmates was boring, and not used by anyone under the age 35. but i guess hundreds of thousands of college students signing up in 2 years only think its slightly interesting

vee_dub on September 5, 2005 7:36 AM
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Vee_dub, I somewhat agree with the first comment - the Facebook is a fun trend among college students, a way to waste time. It offers little in real value. I'm shocked that they have a valuation that high - it doesn't really offer anything over any other social networking site, except it has it's own little niche.

James Luker on September 5, 2005 10:18 AM
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Just so you know--I am a college student near Birmingham, AL and I am ADDICTED to the facebook! To me, facebook is hotter than yahoo and hotmail. Also, you get to talk to classmates from high school that may be attending college on the other side of the U.S. Classmates doesn't have the interaction as well as the coolness of being able to find parties around campus, belonging to groups, and messaging--all at the same time!

Tiffany G. on September 6, 2005 3:53 PM
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Facebook is alright, but personally I like Myspace so much better. With Facebook you can only look at profiles of other people at your school. With Myspace you can search for anyone, anywhere, and look at whoever you want's profile. I can't post blogs on Facebook either. Plus with Myspace you can put more than one picture on your profile and you can design your profile to be like you want with different colors and sounds. To me, Facebook is simply a boring knock off of better websites like Myspace and Xanga

Brooke S. on September 8, 2005 12:32 PM
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Anyone who is in college will attest to Facebook being a significant part of their lives. I was adamantly against FB due to the initial hype, but when I finally logged on a few months after it was offered at USC, it was clear that it was not only a functional tool but source for unique entertainment. The best thing facebook ever did was not include blogs, photo galleries, etc- this allows the site to always *feel* fresh when it may not be. Not to mention, the built-in .edu security puts FB far and above the reliability of any other social network. My congrats to zuckerberg.

Jelous Mother F'er on September 8, 2005 8:40 PM
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whoops

Make that jeAlous on September 8, 2005 8:41 PM
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hey

amber on September 14, 2005 5:31 PM
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okay, i stunbled accross this by mistake. Whoops. I have no idea what this site even is, but I like to poke my nose in and leave comments whereever i can...lol

~Lisa

Lisa on September 29, 2005 11:23 AM
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I just joined a site that just launched called theUspot.com. It takes what the facebook.com has to a whole new level. Think of flickr.com photo sharing site, myspace.com, ODEO.com (podcasting very cool!!!)and facebook.com all combined into one hot new social networking site for college students.

You can create an Artist account in 1 easy step and click on a link to switch between your Artist and Personal account.. Very nice feature - Now college bands have a great new way to connect with their fans at their school...

Check it out and see for yourself - Just remember you heard if here first... ;) The site was Invite Only for a few weeks but they started allowing anyone with a .edu to signup today...

alexa - you can have your facebook! on October 25, 2005 10:01 PM
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Sites like http://www facebook.com and http://www.gorillaexchange.com are changing the way we use the net. Where facebook has focused on schools, gorillaexchange.com empowers the internet user with free personal online stores, a media port and all the other bells and whistles such as blogs, forums, videos, music, debates and so on! These two compnaies are revolutionizing the net. Its web 2.0.

riki santori on December 26, 2005 5:31 PM
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