Facebook set for $1 billion from social gaming
This Technology news posted by 02 July, 2011on
Facebook is on course to generate $1 billion in revenue this year from social gaming, according to Kevin Ryan, a leading Internet entrepreneur and former chef executive of online advertising gaint DoubleClick.
The majority of this revenue will come from advertising, but some will come from Facebook Credits, the social network's currency for purchasing content on the site. Unsurprisingly, Facebook is declining to comment.
Facebook is a private company and so it doesn't have to disclose financial information. The company is going public next year, possibly as soon as Q1 2012. The website's initial public offering(IPO) could be very high, given that its valuation has been predicted to top $100 billion.