Facebook - Tech or Media Company?
Most people seem to categorize FB as a technology company. However, it's possible to classify FB as a media company as well, depending on how you look at it. This could probably said for Google, Yahoo, AOL ,etc. So which group from MS and other banks would handle the IPO...Tech or Media? Obviously for those with combined TMT this doesn't apply.
Tech would (and will) handle it. Facebook is not a true media company because it wasn't created for that. If it had a front page full of recent congressional decisions and other news media, maybe. But instead it's a group of 600MM+ people talking about how they need to take a shit and posting stupid pictures of themselves. That's just how I see it.
It's a social network, which as of yet is still definitively a tech subspace (everywhere). True, they are making some media plays and will likely continue developing that facet of their business, but they are nowhere near a more pure-play digital media company like Yahoo with respect to the proportion of their business that actually circulates CONTENT. Oh and BTW, pure-play digital media companies still sometimes fall under tech anyway (unless it's a specialized media shop like Allen).
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