With reports making rounds that the outrageously popular social network Facebook is set to file for a public stock offering on Wednesday, it is evident that the company will soon be well on its way to find out the value of the personal data of the over 800 million users!
It is being speculated that Facebook will, via its initial public offering (IPO) look to cash in on its core aspect - users' personal information - to eventually touch a possible valuation of between $75 billion and $100 billion.
According to reports, the key factor which will ascertain Facebook's value will be the success that the company witnesses in leveraging 'personal data' as an enticing enough commodity to lure the advertisers.
In addition, the company's value will also be determined by the dexterity with which it can deal with the countless privacy concerns raised not only by its users but also by government regulators round the globe.
With Facebook having attracted an increasing number of users each passing day, along with retaining more and more daily users on its site for longer periods, former Treasury secretary Lawrence H. Summers is of the opinion that the Facebook IPO will be "an American milestone."
Noting that a number of companies offer products which enable people do earlier-done things in a better way, Summers - with reference to Facebook's stupendous success - said: "Most important companies, like Ford in its day or I. B. M. in its, are those that open up whole new capabilities and permit whole new connections. Facebook is such a company."