Though it’s common knowledge that it takes a while for businesses to turn a profit, it’s hard to believe that Facebook, with over half a billion users, is just now making bank. Sure enough, 2009 was the year of in-the-black, Reuters reports. With somewhere near $800 million coming in the past year — due to a 400% ad revenue increase!! — the social networking giant is flying high. This is great news for Facebook, obviously, and not so great for (former) competitors. AOL announced today that it’s selling it’s once-promising social network property, Bebo, to Criterion Capital Partners. Those in the know guess it won’t fetch more than $10 million bucks.
Seems like it’s still a FB world. Can’t help but wonder what’s next to keep Zuckerberg’s phenomenon on top …
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