This paper is part of a research work that aims to gain further understanding of how to assess and valuate social media enterprises, and reveal factors that correlate with either high or low valuations of social enterprises. This paper will cover the part of the research focusing on economic value creation. This paper will explore and compare different models developed to generate this sort of value. The work has identified the main strengths and weaknesses within these models. It also highlighted the differences and similarities between them. Advertising VC model was the most adapted and used model within SMEs. Based on these findings, recommendation on how to improve the current VC models and how they can affect the valuation of the social media enterprise will be provided in future work.