There's been a lot of investment and acquisition activity in the social networking space, and it got me to thinking about the valuation on a per-unique-user basis. So I spent some time on the Web and an Excel spreadsheet and came up with the following:
- Bebo raised $15M in May 2006, on an undisclosed valuation (but in the "mid double digit millions"). Based on 1.096M uniques in March 2006 and a SWAG of $50M valuation, that comes down to $46 per unique visitor.
- Facebook raised $25M in April 2006 on a reported valuation of $525M. With 12.917M unique visitors in March, that's $41 per unique.
- Sconex announced they were being acquired in March 2006 for $8.7M (per Red Herring). With 372K uniques in March 2006, that's $23 per.
- News Corp announced the acquisition of Intermix (MySpace) in July 2005 for $580M, who at the time indicated 27M unique monthly users. So that's about $21 per user, but those weren't all MySpace users since Intermix had a number of other online properties.
So clearly the valuations have increased on a per user basis over the last year. There have been other financings too, of which I don't know the valuations. Tagged raised $7M on 1.6M uniques in February. TagWorld raised $7.5M on 2.2M uniques in March. If you figure they gave away 25% of the company in the financing (just guessing of course), that's $13-$17 per user.
For these rough calculations, I'm counting total unique visitors not reigstered users. And I'm using fragmented data from Red Herring and Jeff Clavier's regurgitation of Comscore Media Metrix data.