Facebook's revenue was close to $800 million in 2009 and is likely to be much more than that this year. According to Reuters, the social network also made tens of millions of dollars in profits. Facebook's total revenue may have doubled from 2008.
The company has resisted going public and may never need to. Digital Sky Technologies made a $200 million investment in Facebook in 2009 in exchange for preferred stock, representing a 1.96% equity stake at a $10 billion valuation. The social network has posted extraordinary growth in the last several years and, according to internet audience research firm Comscore, had 130 million unique visitors in the U.S. last month putting it in fourth place among all Web properties -- just short of Microsoft (MSFT).
Facebook has recently put together marketing packages that have drawn major advertisers, which undoubtedly increased its revenue further and allowed it to charge more for advertising. Its revenue should be well over $1 billion this year. Microsoft's online revenue, made up mostly of its MSN unit, was $1.6 billion for the nine months ending on March 31, 2010. Facebook 2010 sales could approach the annual MSN revenue this year, at its current rate of growth.
Facebook's Revenue Reportedly Hit $800 Million Last Year