Facebook and Social Startups Meme.

$1 Billion revenue or a $4 Billion evaluation, all are a thing of past as new rumors break out of Facebook expected to generate around $2 Billion for 2010. If I am not wrong and if this by any means is true Facebook has more than doubled its revenue it generated in 2009. That is phenomenal, but not unexpected at least for me.

The social network has more than 500 million users and that continues to grow as more people fall prey to the intricate web of this platform. We have seen how Mark Zuckerberg and his team has taken Facebook from being a social place to a booming business with some bright strategy. Facebook’s virtual currency, advertizing, etc has had a gargantuan impact on the business of the network itself. For any business or advertiser it is a haven serving over 50 billion ads a month and that number is expected to reach a trillion by the year’s end.

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I have perhaps got into the habit of writing excessively about Facebook lately and skipping a day without writing one post on the social networking site leaves me feeling empty. Call it a compulsion but Facebook is important to cover, which is why here is one for today.

It appears that the social network is very well set to pass the $700 million mark in 2010 and the reason to state is based on the revenue it generated in 2009. Facebook crunched in a healthy $800 million in 2009, well over the estimated $500 million it was predicted. Keeping the percentage increase in profits, Facebook might very easily cross the $1 billion revenue prediction for 2010. That is great news for Facebook given how the social network has been bombarded with allegations on leaking user data to advertisers, playing with user privacy. Such was an extent of user dissatisfaction that its founder and CEO, Mark Zuckerberg had to publicly apologize for the company’s lack of respect for user privacy.

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