Social Networking still Hot Hot Hot...

Facebook has closed a $25M round, showing that the social networking market continues to attract investors. However, rumors abound that the company was on the block and seeking a $2B price, a la Skype. There is no hard data yet to support the ad driven business model being pursued by all the players in this space, so it remains to be seen whether Rupert Murdoch's $580M purchase of MySpace will pan out, or just pan.