The TechCrunch article by Erick Shonfeld, “If Facebook Is Worth $10 Billion, Twitter is Worth $1.7 Billion” discusses the new social networking valuation model which takes into account the size of each social network’s audience in different countries and the average online spending per capita in these countries. From these calculations, Facebook has been valued at $10 Billion – Twitter by similar methodology is $1.7 Billion

The implications for small businesses? Social networking is a multi-billion dollar industry, continuously expanding and showing no signs of slowing down. I recall just a year or so when Facebook was valued at $1 Billion and that amazed me. While social networking may not be the right place for all small businesses to market themselves, it is a powerful tool that should definitely be given consideration. Don’t think your business is to small to create an internet following – you may just be surprised at who shows interest in the service/product you provide.