Facebook to generate $2bn for 2010

16 Dec 2010

Facebook is reported to generate $2bn in revenue for 2010, much higher than was previously projected.

According to Bloomberg, sources have said that the figure is more than double from 2009, which saw sales at $700m to $800m.

This is due to the privately held social network attracting big brands to advertise on the site, thanks to its 500-million strong membership figure.

It’s doing extremely well with advertising through videos, banners and graphical promotion, and is heading to serve a whopping 1 trillion display ads for 2010.

Facebook is also getting money from virtual currency through social gaming. When gamers pay for Facebook credits, for each dollar spent on them, the social networking giant gets 30 cents.

The company has made great strides in 2010, sparking its founder and CEO Mark Zuckerberg to be titled Time’s 2010 Person of the Year.