The impact of social media on our lives shouldn't be underestimated. The number of people using social media on a daily basis is astonishing. Social media change the way we communicate. People are increasingly likely to go social on the web than in real life situations. But the revolution is not only about communicating, it affects many aspects of our everyday lives. Social media offer us a whole new world of opportunities. In spite of leading hectic lifestyles we can still keep in touch with our nearest and dearest, we can also make new friends or even meet your significant other. The downside is that social media are masters of distraction and famished time eaters. Some tweets, a few likes, time flies...
Rupert Murdoch, the Founder and CEO of News Corporation, the world's second-largest media empire, paid through the nose for MySpace. He bought it for $580m and sold for $35m.
Digg started off quite well, but its recent acquisition for as little as $500,000 stirred up quite a lot of controversy and sparked discussions about the real value of social media.
Facebook is still all the rage, but shortly after the IPO the shares dropped. However, some say this isn’t harbinger of a second Dot-Com Bubble.