Report: Facebook’s 2010 Sales Revenue May Hit $2B
Less than 24 hours after Twitter raised $200 million in funding at a valuation of $3.7 billion, there’s good news about Facebook on the financial front, as well. A report’s claimed that Facebook will pull in a whopping $2 billion in sales revenue this year.
Word comes from Brian Womack and "three sources familiar with the matter," which should mean the figure’s fairly reliable. Bloomberg isn’t in the habit of printing wild rumors.
As for some additional details, Womack reported, "Sales will more than double from 2009, said the people, who declined to be identified because the privately held company doesn’t disclose revenue. Facebook had $700 million to $800 million in sales last year, and the 2010 figure was previously expected to be closer to $1.5 billion, according to two other people familiar with the matter earlier this year."
So it looks like Facebook’s leapfrogged its own forecast by 33 percent, which would be a remarkable achievement even if the windfall didn’t equal a huge figure like $500 million.
The $2 billion figure puts Facebook in impressive company, too. Womack noted, "Facebook, founded in 2004, would reach $2 billion faster than Yahoo and at almost the same pace as Google. Yahoo, founded in 1994, posted revenue of $1.6 billion in 2003 and $3.6 billion in 2004. Google, founded in 1998, reached $1.5 billion in 2003 and then $3.2 billion in 2004."
Don’t be surprised if this development stirs up talk of an IPO again as a result.