Hours before Facebook is set to announce its Gmail killer, Bloomberg says the social network’s latest valuation, based on the selling price of shares on SecondMarket, an exchange for privately held companies, makes it the country’s third-largest online business after Google ($192.9 billion) and Amazon ($74.4 billion). Since Facebook has yet to go public, its forecasted revenue and worth in the public market is all still theoretical. Facebook, which expects sales of at least $1.4 billion this year, has called the figure “fundamentally speculative.” But, hey, investors, don’t let that stop you from playing pretend. [Bloomberg]
“This election was lost by the Democrats,” he says.