Facebook Inc. expects $2 billion in revenue in 2010 said three people familiar with the matter.
This is larger than the company expected. Facebook is the world's largest social networking service.
Those who exposed the $2 billion in revenue figure declined to be identified because Facebook doesn't disclose revenue. In 2009 Facebook saw $700 million to $800 million in sales last year.
The initial estimates from company insiders said they estimated $1.5 billion in revenue for the year earlier in the year.
The site has over half a billion users and that has attracted large advertisers like Coca-Cola Co., JPMogan Chase & Co. and Adidas AG.
Facebook surpassed Yahoo! Inc. in total global users in October. This makes it number 3 behind Google Inc. and Microsoft Corp. according to ComScore Inc. a research firm.
“The love affair of consumers with social networks is an abiding one,” said Karsten Weide, analyst at IDC in San Mateo, California. “All the big brands are there.”
Facebook was founded in 2004 and will reach $2 billion at almost the same pace as Google and has reached it faster than Yahoo.
Tags: Facebook, revenue 2010, ComScore, Yahoo
