Perhaps the biggest and the fastest growing social networking website in the world, Facebook Inc. today announced that, it is in the process of exploring venues in a grander advertisement market, than the one which has made Google Inc. tons of money. As per the recent reports released by Facebook Inc., the company had taken a deadline of the year 2010, as the time when it would self sufficient or cash rich. However, with a staggering increase in the revenue of Facebook, the company has announced that is has achieved self sufficiency far before the 2010 deadline. As per the inside sources, Facebook Inc. is all set to rake in the targeted $500 million for this year.
The credit for this astounding turn around of Facebook goes to the company’s Chief Operating Officer (COO), Sheryl Sandberg, who envisioned an all new business model, under which Facebook intends to take complete advantage of the novel advertisements, that are targeted at the website’s 300 million users.
According to Sheryl Sandberg,
“If you look at global ad spend its about a $640 billion annual business … It’s 10 percent demand fulfillment,” which is what Google’s search ads do. Where we are playing in the ad market is in that demand generation, which is the top 90 percent of the funnel.”
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