SL is hot as in "could be sold/IPO'd to make a shit load of cash for founders and vc's while screwing the buyers".

Not as in "will be around in 12 months".

Where's Justin.TV? Outrage!

How can Facebook be so hot with a huge liquidation preference on the preferred and stingy equity offerings for newhires? There's a reason why they turned down a $1 billion buyout....the employees wouldn't have made any money on the deal.

Don't tell me that some people are actually drinking the organic growth koolaid.

Fatbastard - you think Facebook's employee #xxx figured into the deal as blockers? Where have you been?

Three startups that I like.

Newsvine.com
Loomia.com
Blubid.com

@fatbastard: Why would Facebook have huge liquidity preference hanging over it? The company's always raised money on its own terms. And I thought Zuckerberg still retained more than 50%.

Interesting to see last.FM listed (who have a service I love by the way), but not someone like Pandora who are in the same space, have a much better recommendation technology and (very much personal choice) a better selection of music on-tap.
Besides building a (fairly passive) community I've yet to work out a business model for Last over Pandoras more obvious revenue streams... but then again, as a UK company Last are less at the mercy of the current US royalties debacle so that alone may strengthen their position

Although it's no longer in the Valley -- Zappos.com has to be a contender -- At $600M in annual sales can it still be considered a start-up?

Nick,

I could be wrong, but "on its own terms" = "mark z. cannot be replaced if he does not wish to leave."

That does not mean he got the right terms in terms of liquidation preferences.

In fact, I'd assume that the VCs let Mark Z. get that clause ("what is FB without Mark Z.?", they thought/it could be argued) and granted him lofty valuations but under a liquidity preference clause that indeed put him in a tight spot.

The legend has it that Mark Z. put term sheets from would-be buyers in front of the VCs and said "match it." VCs - trust me on this one - will give an entrepreneur any valuation, because in the end they can block a deal AND protect their investment.

It would not be unlike Mark Z. to think that he could overcome any liquidation preference, thereby agreeing to it.

As per ownership, I always read that he owned 30%... still not bad for the Harvard drop out.

"And I thought Zuckerberg still retained more than 50%."

@Nick

You cant be serious, I'd be suprised if he had more than 25% remaining...

Where is thefunded.com? Common... ;-)

Dude, Miniclip.com is bigger than them all and has 34 million unique users per month - source Comscore Media Metrix, Dec, 2006.
You guys have no clue what is happening on the Internet you just read the newspapers.
You should read the Internet reports to see what's hot on the Internet and not listen to old age newspaper reporters.

Facebook released its anticipated redesign today. Features include individual pages for networks, an “Inbox” more closely resembling email, and a new navigation scheme, as expected. Facebook is also becoming more corporate.