The world's number one social networking site went from 150 million users to 300 million users in just over nine months. Facebook CEO Mark Zuckerberg reported yesterday that the company had not only reached 300 million users, it become cash-flow positive ahead of schedule. The rapid growth of the Facebook site is not surprising with its general appeal to users worldwide.
CEO Mark Zuckerberg posted a blog on his Facebook page yesterday informing Facebook readers of the milestone and the road ahead.
"Because we want to make it as easy and fast as possible for the world to connect, one of the things we think a lot about is how to make Facebook perform even faster and more efficiently as we grow," wrote Zuckerberg. "We face a lot of fun and important challenges that require rethinking the current systems for enabling information flow across the web."
Research firm Hitwise attributes one of the reasons for the rapid growth of Facebook is the Facebook Connect program. Used by over 15,000 sites globally, Facebook Connect allows users to share stories in their news feed and make comments on Web sites and blogs. Facebook Connect is used by sites such as CNN.com, NBC.com, ABCNews.com, Hulu, WashingtonPost.com, and The Huffington Post.
Facebook Connect allows a user to have single portable identity and one password to use on a network of sites. Facebook's recent purchase of FriendFeed is also expected to further enhance this single portable identity across the Internet.
Facebook makes its money from sponsored advertising. It also uses an auction system in which marketers and small businesses pay to target their ads to users of a certain age or geographic region.
Passing 300 million users worldwide and becoming cash-flow positive are both indications that Facebook is going to be tough to beat as the giant in the social networking world.
Written by: Cheryl Phillips
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