Facebook has grown impressively over the past year and is said to be worth somewhere near 65 billion U.S. dollars. As the leading social network, Facebook has more than 500 million users worldwide. From January to November of 2010 the Facebook received 8.9 percent of all Web visits in the United States, said the New York Times.
In June, Facebook accounted for nearly one third of all Internet display advertisement impressions in the United States, more than the combined total of Yahoo, Microsoft Corp, Google and AOL Inc., according to a report given by analytics firm comScore. Facebook is now worth more than eBay, Yahoo and Time Warner.
Investors are taking note of Facebook’s financial success and are prepared to put their money into the popular social network site. According to information the New York Times gained through e-mails, Goldman Sachs and a Russian investor recently put about $ 50 billion in Facebook, raising the social network’s worth immensely.
Goldman Sachs and the Russian investor now have an early “claim” on stock in Facebook. And with this large investment, Facebook has more power to recruit top employers and develop new products, according to the New York Times. Additionally, interest in Facebook shown by Goldman Sachs speaks to the might and success of social network site, since Goldman Sachs is considered one of Wall Street’s “savviest investors.”
Many investors are taking positions for a possible Facebook initial public offering (IPO), after analyzing the viability and recently reports on the company’s profitability.
Reuters said it is expected that Facebook will go public in 2012. Facebook CEO, Mark Zuckerberg, has often declined to comment on the company’s earnings or future business plans. But it is clear that Facebook is facing increased competition from Google in the social sphere.
The search-giant recently released Google+ which reportedly added more than 10 million members in its first two weeks, becoming the world’s fastest growing social network. According to the New York Times, analysts are now confirming that Facebook’s sales volume is around 2,000 million dollars annually.
The social network has doubled its revenue during the first six months of the 2011, compared with the same period in 2010. In the first half of the year, Facebook earned around 1,600 million dollars, as published by Reuters, according to a source close to the social network.
The social network site is on the rise and the public waits in anticipation to see if Facebook will reach out for stockholders this coming year.