Social Media and Identity

We are witnessing a profound change in the media and advertising industries due to the emergence of social media.  Companies that did not exist ten years ago, like Facebook and Twitter, have captured significant share of the attention economy from traditional publishers.  Underscoring this trend is the fact that at the same time that Businessweek was selling for less than $5 million (plus assumption of debts) to Bloomberg, Foursquare’s pretty cousin Gowalla drove up Sand Hill road and collected $8.4 million for a minority stake.

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