And you thought that web 2.0 would never bring in a dime. According to the Wall Street Journal, Facebook will earn around 710 million USD in 2010.
That is likely enough to cover the endless capital expenditures that the company is forced to deal with, and push the social networking into enough profitability to finally approcah an IPO in a direct fashion.
Surely Facebook could juice a few stacks of ten million apiece in profit, finally legitimizing the business in the eyes of not just Wall Street, but big business en masse.
As we reported, Facebook has just ran past 350 million users, or some 5% of the global population. With growth, users, and revenue like this, who can stop the juggernaut?
This is of course makes the difference between Facebook and Twitter even more palatable. Twitter, valued at some one billion, makes nearly nil revenues. Facebook, is on the other hand is valued at billions, but with hundreds of millions in revenue. I know where I would invest.
H/T to Adam Ostrow for finding this.