Wednesday, September 07, 2011

Facebook revenue: Social network doubles income, profits as investors eye IPO [Slate]

The article also indicates Facebook now has an $80B valuation

Remember when people wondered whether Facebook would ever make money?

How does $3 billion in revenues for 2011 sound? Reuters cites an anonymous source close to the company’s financials in reporting that Facebook took in some $1.6 billion in the first half of this year, putting the company on pace for a monster 2011. Almost $500 million of the first-half haul was profit, the source said. The company, which as a private firm is not required to disclose its finances, declined to confirm the report.

Facebook revenue: Social network doubles income, profits as investors eye IPO

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