Mark Zuckerberg’s dorm room darling is now worth $23 billion, according to the latest valuation of Facebook by Elevation Partners, a private equity firm that just took out a large investment in the company. Facebook was worth one third that amount one year ago, but the site has nearly doubled its total users in the same time to 500 million adding 500 million users since last summer.
Dennis Crowley also found out where his friends are recently. Mr. Crowley’s Foursquare was valued at $95 million after it won $20 million in venture capital funding earlier this week.
This month after AOL unloaded a failed social networking venture, the total amount that media companies have lost investing in social networking rose to $1.5 billion. And counting?