Facebook's 2009 revenues of $900m almost double of earlier estimates
London June 19 (ANI): Global networking social website 'Facebook' has achieved something of a milestone, with reports claiming that it achieved revenues of $900m (£608m) in 2009 surpassing the figure of $500m previously estimated by analysts. This has resulted in investors demanding for flotation of the company.
Although Facebook has refused to comment on the current scenario, last September it commented, "Facebook was generating enough income to cover its operating expenses, as well as its capital spending needs thereby resulting in making a net profit of several million dollars".
Facebook is a six-year-old, privately owned group, and the world's largest social website having nearly half a billion users. If the current report turns out to be accurate, investors will increase pressure on the company, based in Palo Alto, California, to list, the Independent reports.
Facebook has previously insisted that an initial public offering was not a short-term priority, and is also conscious of other social networking websites like Bebo, that have fallen in popularity, leaving investors significantly out of pocket. (ANI)