We are currently inside another valuation bubble—this one for e-commerce enterprises, says a new posting on WebProNews, “where it’s not unreasonable for [online properties] to sell for as much as 100 times earnings.  Just two years ago,” the blog continues, “a half-billion dollars for MySpace seemed a bit on the frivolous side.  But now it's obvious that News Corp. got in on something before the rest of the media world caught on, especially as Facebook, with a fraction of the audience, demands a steeper and steeper price.”

The real question: “Are we or are we not looking at (or standing within) the next dotcom bubble?”  Or to put it another way, are we looking at the most current playing out of Mike Pellegrino’s “fools’ market value” premise of value?  (See BVWire™ #59-5).  “What people don’t want to look at is the value of these brands and how inexpensive they are to run compared to traditional media,” says the WPN blog.  “The margin leverage is tremendous.”  The site poses the other “$64 million” question (or is that $64 billion by now?): Is 100 times earnings reasonable?  Keep those valuation comments coming, to the editor.