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In 2006, Business 2.0 named Facebook founder Mark Zuckerberg among its "10
people who don't matter" because he turned down a $750 million buyout offer.
Less than two years later, Business 2.0 is, well, out of business and estimates of
Facebook's value have soared as high as $15 billion, thanks to a hefty investment
by Microsoft. The site's new, higher profile kicked up privacy concerns—not to
mention various allegations that Zuckerberg lifted his code from other sites—
but, still, 2007 belonged to Facebook and its 23-year-old CEO. In May, the site
introduced its open development platform, which allowed third-party developers
to create applications for the Facebook community. That's when you—and
everyone you've ever met—signed up. The site's ad plan followed in
November—accompanied by BeaconGate—which is where the proof will ultimately
lie. Right now, Facebook only has $150 million in annual revenues, and
half the traffic of MySpace. Still, a tip of the hat goes to Zuckerberg for the site's
elegant design, intelligent features, and patient development. Functionally,
MySpace is scrambling to keep up.