Ka-Ching!
Silicon Valley veteran Mark Andreessen, who sits on Facebook’s board, says the company will rack up billions of dollars in revenue in five years.
It’s more important at this stage for social sites like Facebook and Twitter to beef up their base of user, rather than worry too much about filling their money bags.
Privately held Facebook — which counts venture capitalist Peter Thiel, Accel Partners, Microsoft Corp <MSFT.O> and Russian Internet investment firm Digital Sky Technologies among its investors — has never disclosed its revenue except to say it expects 70 percent growth this year.
Andreesen said Facebook will “do over $500 million,” this year.
Keep an eye on:
- Playboy’s former interim CEO jerry Kern steps dowon from its board. (PaidContent)
- Will iPods soon have built-in cameras? (TechCrunch)
- Advertising set for mild 2010 recovery-forecast (Reuters)
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Facebook was a revolutionary concept, the founders have brilliantly executed it and will be rolling in money as a result. Facebook perfectly knows how to monetize a high traffic website and there’s a lot that loss making Youtube could learn from them.
- Posted by Nikkei 225