Facebook said the company has become free cash flow positive ahead of schedule and that the social networking site now has 300 million users.

Facebook CEO Mark Zuckerberg said in a blog post on the company site on Tuesday that Facebook reached its goal of being free cash flow positive in its most recently ended quarter. The company had previously projected to reach the target sometime in 2010.

This is important to us because it sets Facebook up to be a strong independent service for the long term, said Zuckerberg in the blog post.

Facebook spokesperson Larry Yu said the free cash flow metric does not include any cash from private investment.

In May, Facebook announced a $200 million investment from Russian investment firm Digital Sky Technologies.

(Reporting by Alexei Oreskovic; Editing by Gary Hill)