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Facebook could make billions in five years

by on07 July 2009

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Optimist of the decade named

 

A Facebook board member has been dubbed “Optimist of the Decade” by the panel of hacks who write Fudzilla after he claimed that the social notworking site will make billions of dollars a year in five years.

Marc Andreessen said that the outfit could grow its revenue from more than $500 million to multiple billions within five. The comments came when he was chatting about the launch of a $300 million venture fund he has formed with longtime colleague Ben Horowitz. Adreessen said that if Facebook pushed the throttle forward on monetisation they would be doing more than a billion this year.

Facebook is not telling anyone how much it makes or does not but has said it expects 70 percent growth this year. Both Andreessen and Horowitz said during the interview that they believe it is OK for companies like Facebook and micro-blogging service Twitter to concentrate on growing their user base and improving their product rather then push revenue growth early on. MySpace suffered because it concentrated on making cash too early on, he said.

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