They are valued by the market at about 9B.Their net earnings are...

They are valued by the market at about 9B.
Their net earnings are about $10m...
This puts them on a PE of about 900..... Talk about BS.

Did i fall asleep, go back in time to the internet bubble?

An analsyst might say that the story is about PE growth, ie capturing a larger audience, year in, year out.
The problem of course is they many good companies run on pe20.
The price today already factors in an overnight subscription increase of 45.
It has about 100m members.
It will now need about 4.5B members, or the entire face of the planet just to be be placed at fair value today!
Seriously, i don't see the value, just a short.
Mav