Facebook Becomes Money Hungry
After securing $240 million from Microsoft, Facebook is already looking for more money from other sources. The social network is searching out hedge funds and private-equity investors to raise more money according to a report in the Wall Street Journal.
Nothing official has been signed as of now, but the site has been said to be in talks with potential investors and additional funding may be announced soon. The report said that a person familiar with the matter has revealed that the company could earn as much as $260 million through these said investments.
The company would use all funding being brought in for investments in technology, to hire a larger staff, expanding a new advertising division and financing projects such as international expansion the report continued.
Revenue for the site this year will go to a reported $150 million, which will mean the company will break even. It is said that the advertising plans that are rumored to be unveiled at ad:tech New York, will include a system that allows advertisers to place targeted ads based on personal information put up by users. Facebook has become its own fast-growing bubble, waiting to burst.
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