Migme acquires sold.sg, page-23

@ SusannB - Facebook is based on an advertising model so it is not a good comparison ...

Facebook's model is not relevant for the markets migme is in .. migme has the right model for the next 3.5 bln people in the emerging markets of Indonesia, India, Philippines, Middle East and Africa

You will also find if you do your homework that Tencent (700 HK - now $160 bln usd mkt cap) that "The company remained unprofitable for the first three years." [14]as per the Wikipedia link  below

http://en.wikipedia.org/wiki/Tencent

Obviously today, 10 years on from listing Tencent is now an absolute monster ($160 bln mkt cap usd !) and extremely profitable.

In regards to other valuations in the sector and the upside that exists for migme you only need to look at some of the Asian social networking and entertainment businesses who command huge valuations in comparison to migme.

- tian ge (1980 hk - approx $600m usd) - listed middle of last year
- momo (momo nasdaq - approx. $2.1 bln usd)
- yy.com (yy nasdaq - approx. $3.9 bln usd)
- mixi (2121 Tokyo - approx. $2.9 bln usd)
- daum (035720 kosdaq - approx. $7.9 bln usd)

migme - (mkt cap - only approx. $150m usd at around the 70c level) - and has the largest handset maker on the planet (Foxconn) as its strategic investor ...

I will leave you to dwell on the valuations in the sector and think about the upside potential that exists for migme from current levels .. $2 is too cheap guys.

DYOR