Is Facebook The Fastest Moving Company in the US?

Facebook is undoubtedly growing at an alarming rate. Earlier this month, we reported on Facebook topping eBay to become the third largest Internet company in the US. Facebook has an estimate valuation of  $40.9 billion US dollars. According to Bloomberg, Facebook valuation has gone up by 50% in the past month and has tripled this year. The second largest Internet company Amazon is valued at $74.4 billion.

Undoubtedly, this increase in valuation comes from an increase in revenue. Recent rumors suggest that Facebook revenues have increased to double of what experts estimated earlier. The projected figure for Facebook revenue from this yea stands at $2 billion instead of the earlier speculated $1 billion.

Bloomberg writes in a report saying,

Revenue will more than double from 2009, said the people, who declined to be identified because the privately held company doesn’t disclose revenue. Facebook had $700 million to $800 million in sales last year, and the 2010 figure was expected to be closer to $1.5 billion, according to two other people familiar with the matter earlier this year.

If these growth rates are true, Facebook will soon become the second largest Internet company in the US by the end of 2011.

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Chinmoy Kanjilal

Chinmoy Kanjilal is a FOSS enthusiast and evangelist. He is passionate about Android. Security exploits turn him on and he loves to tinker with computer networks. You can connect with him on Twitter @ckandroid.