Board Member: Facebook Revenue Over $500 Million This Calendar Year

Authored by Jay Baage on July 6, 2009 - 10:30am.

Palo Alto – Facebook, currently the leading social network by audience size, will see over $500 million in revenues this year, according to entrepreneur Mark Andreessen, who sits on the company’s board. "This calendar year they'll do over $500 million," Andreessen said in an interview with Reuters, noting that Facebook has more than 225 million users, so revenue per user is still small.

Andreessen went on to say that that revenue could exceed $1 billion if Facebook pushes harder on selling advertising, although he does not see this as a priority at this stage. Andreessen explains that he believes that it is more important at this stage for social sites like Facebook and Twitter to retain and grow their user base and capture market share, rather than worry too much about making lots of money right away. If Facebook stays on track, he thinks that it is likely that the company could be posting billions of dollars in revenue in five years.

"There's every reason to expect in my view that the thing can be doing billions in revenue five years from now," Andreessen said.

Related Links:
http://www.reuters.com/article/ousiv/idUSTRE56531X20090706?sp=true
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