Facebook, which has valued itself at about 2 billion dollars, has sold a percentage interest to a group of VCs (Greylock, Meritech Capital, Accel and Peter Thiel) for $25 million. Not bad for an effort started two years ago by 3 Harvard students.
While Facebook has 7 million registered users, Visible Path is a new social networking effort that hopes to do for the corporate market what Facebook has done for students. In typical fashion for a hot VC niche, money is pouring in before the company has actually proven itself. It's more than a concept, but CEO Antony Brydon hasn't quite proved his theory that the enterprise will pay for his service, rather than individuals as in LinkedIn.
