Undervalued

Glenn Reynolds realizes he’s undervalued. Well, yeah. Based on News Corp.’s $580 million purchase of MySpace with its 17.7 million visitors per month, his visitors — about a quarter of that — would make him worth $145 million … and he’s hiring a banker.

Hell, that’d make li’l old Buzzmachine worth a few mil, even.

But seriously… I had complained that Glenn undervalues himself with his ad rates (though they are coming up now).

But the real problem is that we’re all undervaluing out little medium. The big, dumb money comes along (mind you, these were the folks who tried to shove $400 mil down Pointcast’s throat and those sods were stupid enough to cough it back up) they have no way to spend it. We make it difficult.

More to come on this topic later…..

  • http://rconversation.blogs.com/ Rebecca MacKinnon

    Yeah, you guys should stop doing so many regular TV appearances for free. :-)

  • http://buzzmachine.com Jeff Jarvis

    Right you are, Rebecca. I just turned down six appearances on one net this week because of just that.

  • http://www.bloodandtreasure.com Noel Guinane

    Curious that when a business comes calling with an offer, their interest is “number of visitors”. When blogs go on the block (as some probably will in time), think the buyers will be interested in the “number of technocrati links”? I don’t. I think they’ll be interested in the number of hits.

  • http://www.donaldsensing.com/ Donald Sensing

    Well, that makes my site worth just under $2,000,000. Any buyers out there?

  • Ed

    Jeff:

    First of all – kudos on the new design! Looks great…

    Second – I’m sure at some point, metrics will be developed to “appraise” blogs the same way business and real estate gets appraised. There’s value on blogs. It’s not a matter of “if,” but a matter of “when” that that value is converted into currency.

  • http://blogebrity.com/blog Nick Douglas

    Note, though, that Myspace is choked with ads, and that the demographic is young and flush with shopping money. Also figure that each visitor makes 5 hits (that’s conservative) throughout the Myspace network. Add, again, the staying power of a site with so many active users. And finally, figure that the site is buildable, that new investments can end the constant section failures Myspace suffers, and that these kids will go crazy for tie-ins, contests, and promotions.

    But hey, Gawker’s got to be making $2000-3000 a day on ad revenue. Who knows how much Jessica Coen is allowed to take home?

  • http://www.catablast.com Dan Jacome, II

    MySpace has been giving competitor Friendster (which I prefer, even though I’m still getting used to Friendster’s new interface) a run for its money.

    MySpace gets more traffic than Friendster, the reason being that MySpace has more features that Friendster is slowly trying to add unsucessfully.

    However, there may be a silver lining in all of this for Friendster.

    Benefitting from a sort of “spillover interest” in virtual communities, I wouldn’t be surprised to see Friendster also get bought out by another larger, major media player that’s trying to enter the online social networking market.

  • Chancy

    Kudos to you and your son on the new site format. It is just great and a huge improvement on the old one.