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Facebook Now Making a Profit, Other Social Sites to Follow?
Facebook is the largest social networking site around. The site has around 300 million active users worldwide; this means users actually login into their profiles and are navigating around or have recently updated their status. Facebook started out has a small social networking site which then took the world by storm. The company has had investments from a vast amount of people and share buyouts from companies such as Microsoft.
But only now has Facebook begun to turn over a profit, which is actually well ahead of the planned 2010 date. Mark Zuckerberg the founder stated "We are succeeding at building Facebook in a sustainable way. We are just getting started on our goal of connecting everyone. "We face a lot of fun and important challenges that require rethinking the current systems for enabling information flow across the web".
Facebook are targeting the one billion mark in terms of users on their site. The revenue possibilities would be endless if they reached this huge feat, which is a target that is not impossible. I think the next step for Facebook would be trying to convince all of these people that are not currently using their service to get on and begin using it. A vast amount of people I know still do not use the site, because a lot of people still have a bad perception about social media sites. They believe they are still a form of online dating and that's the message that Facebook needs to clearly communicate across to them.
So now that we have seen one social site turn over a profit, we could well see the rest of them monetizing their sites to cash in on the social media bubble. Sites such as Twitter still do not have a solid business plan in place, but the things that other social sites need to avoid doing is becoming a site that only cares about revenue. Facebook have built up their empire in a great way with Google like PPC ads that is a tried and tested method.
User's love social networking sites simply because they get to interact with peers without being forced with any kinds of advertisement, like the olden days when there was pop ups and pop unders all over the place. The new way to make money online is simply by giving people the option to click or view your site or product and not forcing them.
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