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Twitter is worth a ton, it's reach in the mainstream is absolutely incredible. Look at the protests in Egypt for christ's sake! Half of the protests are arranged by twitter and facebook postings...
Though the multiples might seem insane from a porn webmaster's point of view the valuations for "people in the know" it might not seem so out of control. These are relatively new verticals with a ton of monetization that still needs to be realized.
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