Facebook networking site valued at €4.3bn

SOCIAL networking site, Facebook, popular with students in Ireland and Britain has been valued at $6 billion (€4.3bn) by influential analyst Robert Peck.

The Bear Stearns analyst also said Yahoo! could be a potential buyer if it does not want to miss out on the networking phenomenon.

In a client note, Mr Peck said he saw Facebook generating $140 million (€101.5m) in revenue this year and $358m (€259.6m) of earnings in 2008, growing to $6bn (€4.3m) of revenues with $2.3bn (€1.7bn) in earnings before interest, tax, depreciation and amortisation by 2016.