Yep you did read that right. After five years and $716 million of investment, Facebook announced yesterday that it had reached 300 million users worldwide and it was cashflow-positive...(although admittedly this is not the same as being profitable as it may not include certain expenses).
Amazingly the site grew by 50 million in just the past two months. And with Facebook Lite being launched, who knows how expansive Facebook´s online footprint could be.
Read more here.
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About Me
- Matt Holt
- London, United Kingdom
- Matt is Business Director at Kinship Networking. Kinship Networking is a completely new type of marketing agency, dedicated to using social media to help businesses to build stronger social relationships with their customers, employees and shareholders. After graduating with a degree in Management Science, Matt occupied various marketing roles for companies such as Microsoft and Reuters. He then joined Ogilvy where he worked above and below-the-line on BT, Cancer Research UK and First Great Western. Most recently he joined Stephens Francis Whitson, a specialist direct marketing agency, where he worked on a number of accounts including O2, More Th>n and Rocco Forte. Matt has worked on a number of new business ideas within the social networking arena, including the development of a site aimed at helping people stay in touch with their various groups of friends, at the start of 2001.
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