Facebook now ‘cash flow positive’
Revels in global success; reveals more than 800 Facebook members contributed to its Arabic translation
Facebook CEO Mark Zuckerberg has revealed that the company is now profitable dispelling any doubts over the feasibility of its business model.
“Earlier this year, we said we expected to be cash flow positive sometime in 2010, and I'm pleased to share that we achieved this milestone last quarter. This is important to us because it sets Facebook up to be a strong independent service for the long term,” Zuckerberg wrote on a company blog post.
While Facebook did not provide any specific financial details, board member Mark Andreesen told Reuters earlier this year that Facebook is set to surpass $500 million in revenue this year.
It also got a financial boost in May when Russian-based Digital Sky Technologies invested $200 million to support its rocketing growth.
Facebook now connects a staggering 300 million people around the world though it won’t reveal exactly how many of its members come from the Middle East.
It did however point out to itp.net that when they launched Facebook in Arabic in March this year, “more than 800 Facebook users contributed to the translation.”