Facebook revenue for 2010 could be $2 billion

Popular social networking site Facebook is having an astounding year. First we had news that it now has over 500 million users and then yesterday its co-founder and CEO Mark Zuckerberg was named as TIME Person of the Year 2010. Now further news today is that Facebook revenue for 2010 may be as high as $2 billion.

This means that Facebook’s revenue for the year would have more than doubled since last year when revenue hit $800 million. Jolie O’Dell over on Mashable reports that although at the beginning of the year revenue of around $1 billion was anticipated, the figures are not so surprising when considering Face book’s advances with advertising and virtual currency this year.

Around 50 billion display ads are now served on Facebook every month and by the end of the year that could equate to 1 trillion ads for 2010. It seems that Facebook and Google are now set to battle it out for location-based ad revenue so there should be interesting times ahead. Carl Bagh over on the International Business Times reports that a $2 billion revenue for Facebook would mean it would beat both Yahoo and Google to become the fastest company ever to post a $2 billion revenue.

This is certainly an impressive achievement by Facebook but we’d like to know your thoughts about the social network and its founder Mark Zuckerberg so please do send in your comments.