Facebook Rakes In Mountains of Megabucks

[ECTNews]

 Despite growing competition from Google, social network kingpin Facebook doubled its revenue in the first half of 2011, raking in $1.6 billion to bolster company growth before its rumored IPO, according to a Reuters report. Earnings from the privately held company aren't confirmed, but the world's largest social network reportedly posted a net income of nearly $500 million to start off 2011. The company that started in CEO Mark Zuckerburg's college dorm room in 2004 doesn't show any signs of stopping.

e-Commerce Times