Social networking website Facebook, which has seen rampant growth during its five years of existence and now has 300 million users worldwide, is officially “cash-positive”.
This was announced by 25-year old Facebook founder Mark Zuckerberg, who noted that 50 million people had joined Facebook in the last two months. Some $700m worth of investment has gone into Facebook over the years.
Facebook Lite – a version of the site for slower Internet connections – has just been launched, targeting countries like India and Brazil. Media speculation is that Facebook may be planning for a stock market launch early next year.
(Source: The Guardian, UK)
