Report: Facebook '09 Revenue Neared $800M
Reuters, Friday, June 18, 2010 12:16 PM
Describing Facebook's financial performance as "stronger than previously believed," Reuters is reporting that the social net's '09 revenue neared $800 million. That's according to unnamed sources, one of whom also tells Reuters that Facebook earned a solid net profit, "in the tens of millions of dollars last year." The news service suggests that the impressive numbers are "likely to whet the appetites of investors keen for a public share float, despite the company's insistence that an IPO is not a near-term priority."
To date, privately held Facebook has released very limited financial information. Last July, Facebook board member Marc Andreessen told Reuters the company was on track to surpass $500 million in annual revenue for 2009. "They are downplaying their performance," one source tells Reuters. "There's no upside in getting people's expectations high, it's always better to go low."
Read the whole story at Reuters »
To date, privately held Facebook has released very limited financial information. Last July, Facebook board member Marc Andreessen told Reuters the company was on track to surpass $500 million in annual revenue for 2009. "They are downplaying their performance," one source tells Reuters. "There's no upside in getting people's expectations high, it's always better to go low."
Recent Around the Net In Online Marketing Articles
-
Is Google Just An Amazon Copycat? May 24, 11:59 a.m.
Despite its image as an innovator and a maverick, Google appears to be borrowing liberally from ... -
Hulu's Future Less Uncertain Than Ever May 24, 11:58 a.m.
With Hulu hanging in the balance, the first round of bids were reportedly due this week ... -
Google Faces New Antitrust Probe Over Display Ads May 24, 11:57 a.m.
Once again, U.S. regulators are reportedly pursuing an antitrust probe into whether Google’s ad sales business ... -
Waze Stirs Bidding War Between Google, Facebook May 24, 11:55 a.m.
Threatening a bidding war, Google is said to be eying Waze -- that social driving app ... -
Gadget Use Soaring Among Fliers May 23, 12:23 p.m.
Don’t tell your flight attendant, but frequent fliers are greatly increasing their use of tablets and ... -
Microsoft Employs Siri To Bash Apple May 23, 12:22 p.m.
Say it ain’t so, Siri! Seemingly against her will (if she even has one), Apple’s oracle ... -
Yahoo Buys Gaming Platform Provider PlayerScale May 23, 12:21 p.m.
Continuing its buying binge, Yahoo just scooped up gaming platform startup PlayerScale. “PlayerScale, which was founded ... -
Twitter Streams Network Fare With "Amplify" May 23, 12:20 p.m.
Twitter on Thursday unveiled a new way for TV networks to broadcast real-time video on the ... -
"Social Expressions" Startup Urturn Raises $13.4M May 22, 11:48 a.m.
Urturn -- a so-call “social expressions platform” -- just closed a $13.4 million Series A funding ... -
Apple To Embrace More Social Networks May 22, 11:47 a.m.
Apple reportedly plans to give third-party social networks -- including Flickr and Vimeo -- a bigger ...
Be the first to comment on "Report: Facebook '09 Revenue Neared $800M"
Leave a Comment