Facebook is making enough money to cover its costs and now has 300 million users, the world's largest social networking site said on Tuesday, proving the Internet's newest star industry can be a viable business.
Facebook said the company has become free cash flow positive ahead of schedule and that the world's largest social networking site now has 300 million users.
Facebook said the company has become free cash flow positive ahead of schedule and that the social networking site now has 300 million users.
Online social networking site Facebook is looking to expand its staff by as much as 50 percent this year, its chief executive Mark Zuckerberg told Bloomberg news agency in an interview dated August 20.
Courting GM; Economic Heads Up; Facebook goes Bigger
Facebook's vision of becoming a utility that offers activities to keep people online for hours could set it on a collision course with the Web's giants.
Facebook, the world's largest social networking site, said it will buy FriendFeed, netting a group of prized ex-Google engineers in the fast-growing Internet business.
Facebook is now celebrating its new counts of active users around the world. Today, it announced that it has reach 250 million active users.
Author Ben Mezrich wants readers to enjoy his new book about the founding of social networking website Facebook like a page-turning thriller and ignore criticism of his reporting methods.
Facebook netted a $6.5 billion valuation for its common shares on Monday, further underscoring the fast-growing Internet social networking site's high rank among technology and media industry heavyweights.
Russian investment group Digital Sky Technologies has placed a tender offer to purchase up to $100 million of common stock from current and former Facebook employees., according to media reports.
Russia's Digital Sky Technologies said it will pay $14.77 a share for Facebook common stock, boosting its stake to as much as 3.5 percent and valuing the world's largest online social network at about $6.5 billion.
Digital Sky Technologies will pay $14.77 a share for Facebook common stock, in a deal that values the world's No. 1 Internet social network at roughly $6.5 billion, according to a person familiar with the matter.
If there's one group of executives at this week's Sun Valley media and technology conference who ought to be in good spirits, it's the handful steering the fleet of Internet social networks.
Internet social network powerhouse Facebook has hired the former chief financial officer of Genentech as its CFO, filing a spot that has been empty for about three months.
Social networking website Facebook on Monday named David Ebersman as its new Chief Financial Officer, a former Genentech Executive and CFO who tripled its revenue.
David Fincher, director of Seven, Fight Club and The Curious Case of Benjamin Button, is in early talks to sign on to direct the upcoming Facebook movie, according to Variety.
A Russian Internet investment firm has invested $200 million in Facebook, giving the social networking company a cash buffer during the recession and pegging its value at $10 billion.
Facebook Inc., said Tuesday, received an investment of $200 million from Russia’s Digital Sky Technologies that values the networking service at $10 billion.
Facebook sold a 1.96 percent stake for $200 million to a technology investment firm, valuing the largest social networking site at $10 billion, the two companies said on Tuesday.
A Russian Internet group, Digital Sky Technologies, has offered to invest $200 million in Facebook in a deal that would value the social networking site at $10 billion, the Wall Street Journal reported on Friday.
Facebook and Twitter have helped make social networking a household word. Now they need to make money.
