16 Sep Facebook is Now Profitable
A few months ago I wrote about my concerns regarding Web 2.0 companies. I was thinking out out about how many would make it financially – considering that many were not making money. Well, now it looks like Facebook has turned the corner and is starting to return a profit.
Key to Facebook’s profitability has been its ability to keep its headcount low. Mr. Zuckerberg points out in his blog post the company employs one engineer for every million users. The company has only 1,000 employees serving a user base that is quickly surpassing the population of the United States.
Revenue is also accelerating, growing from $150 million in 2007 to about $350 million in 2008 and a predicted $500 million in 2009, according to Facebook board member Marc Andreesen.
Oh, now the number of users on Facebook has surprassed the US population.