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Evidently, holding off significant acquisition attempts from various industry titans might prove to be an extremely savvy move for Facebook after one of its board members revealed the networking service will soon be generating “billions” in revenue.
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Speaking with the Reuters news agency, technology entrepreneur and Facebook executive Marc Andreessen said the next five years will see the world’s biggest social network posting billions of dollars in revenue – and could potentially amass its first billion in revenue this year.
“This calendar year they’ll do over $500 million,” said Andreessen, who initially found fame in the tech industry by founding Netscape. “If they pushed the throttle forward on monetization they would be doing more than a billion this year.”
Taking into account Facebook’s continuing popularity growth and looking beyond its current performance projections, Andreessen added that, in his view, Facebook can be turning over billions of dollars in revenue by 2014.
Facebook is a privately held company backed by software giant Microsoft Corp., Russian Internet investment outfit Digital Sky Technologies and venture capitalist Peter Thiel.
In related news, Andreessen and long-time business partner Ben Horowitz have announced the launch of a new investment capital venture that will place its focus on technology startups.
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