• Bloomberg, Thursday, December 16, 2010 1:29 PM

We guess it's fair to say that advertisers' fear of social media is dead. Indeed, beating previous projections, Facebook is now on track to generate about $2 billion this year, sources tell Bloomberg. "The love affair of consumers with social networks is an abiding one," Karsten Weide, an analyst tells Bloomberg. "All the big brands are there." Facebook's A-List advertisers now include Coca-Cola, JPMorgan Chase, and Adidas. "People are learning and they're figuring out how they can work with Facebook," Christian Juhl, a president at digital ad agency Razorfish tells Bloomberg. "You can prove success without a massive expenditure."

According to "three people familiar with the matter," sales at Facebook will more than double from 2009. Facebook reportedly had $700 million to $800 million in sales last year, while previous estimates for 2010 were close to $1.5 billion. In October, Facebook surpassed Yahoo when ranked by the number of global users, making it No. 3 behind Google Inc. and Microsoft Corp., according to ComScore.

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