Posted by: Collabo
Category: Facebook, Investments, Social Networking
Tags: Andreessen Horowitz, Marc Andreessen, virtual currency
Facebook Revenue Projected into the Billions
Facebook board member Marc Andreessen in a Reuters interview stated that he anticipates the social networking giant to reach $500 million in 2009 and billions more in five years. “There’s every reason to expect in my view that the thing can be doing billions in revenue five years from now,” Andreessen said.
The core source of Facebook’s revenue is engagement advertising however the company has been actively exploring alternative revenue streams such as virtual currency as a way of monetizing Facebook applications.
Andreessen also made news this week announcing a new $300 million technology venture capital fund with partner Ben Horowitz. The new VC firm appropriately named Andreessen Horowitz will focus on startup companies targeting the Internet, cloud computing, software, networking, and related industries.
