Facebook’s Revenue Doubles to $1.6bn

This article was last updated on April 16, 2022

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The success story of Mark Zuckerberg’s dorm room project Facebook continues to make big money. In the first half of 2011, the No.1 social networking website had its revenue doubled to $1.6 billion. In the first six months of 2011, the net income of the website reached a brilliant $500 million. Facebook’s valuation has been augmented to nearly $80 billion in private markets by the investors.

Facebook’s success has left many other companies in the social media world to suffer. Pressurized companies are searching for ways to break Facebook’s concentration of 750 million users and advertisers. Included among such companies is Yahoo Inc, which recently ouster its chief executive, Carol Bartz.

While Google managed to attract 10 million users in its first two weeks of Google+ launch, it is still working to augment its popularity amongst the internet users by offering games such as Zynga Poker and Rovio’s Angry Birds – considered to be the most addictive and successful iPhone game ever made.

Some analysts are stating that Google+ will eventually take over Facebook.

Presently, Facebook is the most visited website by people. According to analytics firm comScore, in June facebook was home to one third of all internet displayed advertisements of USA, a number higher even if combined against the total of Yahoo, Microsoft Corp, Google and AOL Inc.

Whether the $1.6 billion revenue has been achieved through advertisements alone or it includes the 30 percent cut of sales of virtual goods is unknown, as facebook generally avoids making its financial results public.

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