Facebook is huge. There’s no doubt about that. It’s also obvious that Facebook Ads have been bringing in significant amount of revenues. However, because Facebook is yet to go public, there has been debate about exactly how much money Facebook has been making. Well, thanks to one loudmouthed Goldman Sachs customer we now know.
According to the leaked information, which was sourced from a private document delivered by Goldman to some of its wealthy customers, Facebook’s total revenue during the first nine months of 2010 was $1.2 billion. The social network, which was valued at $50 billion in the recently closed funding round, made a net profit of $355 million. Since the financial statements weren’t audited, they didn’t provide specifics regarding the sources of revenue.
Goldman Sachs will be raising at least $1.5 billion through investments from its customers, who have until Friday to confirm their investment. Facebook is expected go public in 2012, and getting in before that might prove to be extremely lucrative.