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 Zuckerberg’s college dorm room in 2004 doesn’t show any signs of stopping.
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Facebook Rakes In Mountains of Megabucks
Posted by: Rachelle Dragani September 8, 2011 02:17 PMDespite 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 Zuckerberg’s college dorm room in 2004 doesn’t show any signs of stopping.