Report: Facebook '09 revenue near $800 million
The privately held social-networking phenomenon raked in as much as $100 million more in revenue than previously estimated, a news report says.
Social-networking powerhouse Facebook saw its revenue climb as high as $800 million in 2009, $100 million more than previously estimated, according to a media report.
The Reuters news agency reported the higher revenue, citing unnamed sources. One of those same sources told the agency Facebook had also seen net profits in the tens of millions of dollars last year, Reuters said.
Industry blog Inside Facebook had previously estimated that Facebook made as much as $700 million in revenue last year, and Facebook board member Marc Andreessen said last year that the company would surpass $500 million in revenue for 2009.
Privately held Facebook doesn't reveal specifics on its financial numbers.
The Inside Facebook blog also predicts Facebook could nab more than $1 billion in revenue for 2010. Much of the company's revenue growth is presumably the result of advertising dollars, and in order for the growth to continue, Facebook will have to be sure to in a field that's evolving faster than ever.