Known as being a hugely popular platform in the world of social media marketing, Facebook has seen its revenue double to $1.6 billion for the first half of 2011, according to an exclusive report published by Reuters.
A source, that wanted to remain anonymous – as Facebook is privately held and doesn’t disclose its financial results – stated that net income for the first half of this year amounted to almost $500 million.
With a popularity that continues to grow amongst those in the marketing sector, the success of Facebook has put huge pressure upon its rivals to reach a similar level of success in hosting advertising initiatives.
The launch of Google+ has led to concerns about Facebook’s future dominance.
It saw a massive 10 million users join in just two weeks and despite the lack of advertising features currently available on the Internet’s newest social network, many commentators have speculated that Google+ is well on the way to taking a significant portion of the market currently dominated by Facebook.
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