Facebook Makes a Profit, But Can't Friend Clooney
Social network's business model paying off, finally
Updated 12:00 PM EDT, Wed, Sep 16, 2009
George Clooney's no friend, but at least Facebook is finally making money for someone other than its 25-year-old gazzilionaire founder.
The social networking company passed the 300-million registered user mark and is now "cash-flow positive," according to Mark Zuckerberg, who founded the company while he was in college. Advertising Age reported the development, noting that it comes even as Facebook struggles to craft the right model for advertising. Most of the revenue comes in from low-cost display ads.
Zuckerberg said in his blog that one reason his company is finally making money is that he keeps headcount low, claiming there is just one engineer for every million users.
While Facebook has added 50 million users in the last two months alone, it isn't even close to reeling in George Clooney.
"I would rather have a prostate exam on live television by a guy with very cold hands than have a Facebook page," the Hollywood hunk recently quipped to reporters at the Toronto International Film Festival.
Get more: Advertising Age, People
First Published: Sep 16, 2009 10:28 AM EDT
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