Friends Reunited to be sold at £160m loss?

Poor old ITV. It dived into the world of social media just as the tide was turning. Now, according to the Mail on Sunday, it could be selling Friends Reunited for a paltry £15 million; that’s £160million less than it paid for it 4 years ago! FR was rather a one trick pony though, wasn’t it? Once you tracked down Biffer Bradock, shared reminiscences about Spotted Dick and dinner ladies it all kind of fizzled out; or, of course you had an affair with an old girlfriend/boyfriend! The realclincher was the rise of MySpace, Facebook and Bebo though – social media based very much in the here and now. But is this a salutary warning? How should we price these sites? Especially given that their life span may be as little as 5 years? How long before Facebook goes the same way? I’m already trying out – the site that professes to not be about ‘…who you know or people from your past; it’s about connecting with new people who share your interests and experiences today’.