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The social media sector has drawn a significant amount of attention to itself this year. Between initial public offering debacles and the implosion seen in social names across the entire board, the companies involved have received several strikes against them from Wall Street. However, the companies are still widely popular among Main Street.
The eBusiness knowledge-base firm eBizMBA provides a constantly updated list of the most popular social networking sites each month. The sites are ranked according to Alexa Global Traffic Rank and the U.S. Traffic Rank from Compete and Quantcast. The top 5 social networking sites are listed below.
While these names may be popular to kill some free time with, they serve as a clear reminder that business models are still important when it comes to investing in social companies. LinkedIn and Google both have a stronger track record for monetization, and their stock performance since going public reflect that. Another example of Main Street getting too carried away with online addictions is Zynga (NASDAQ:ZNGA). Although the company ranked number one among the most popular gaming websites with 27 million unique monthly visitors, ahead of Pogo.com and Yahoo! Games (NASDAQ:YHOO), its share price has plummeted nearly 70 percent this year.
Investor Insight: LinkedIn A Winner on Wall Street
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