Report: Facebook made $355 million Net in 2010

January 7, 2011 -

A report that found its way to Reuters this week reveals some interesting financial numbers from privately owned Facebook. The document, which was meant for customers of investment firm Goldman Sachs, says that Facebook made $1.2 billion USD in the first nine months in 2010. The company also raked in $355 million in net income.

The source that leaked the document to Reuters told the new organization the "the financial statements were not audited and offered little detail about how Facebook generates it revenue".

"It just shows you that these business can generate 30 percent to 40 percent, potentially, operating margins," said Ryan Jacob of the Jacob Internet Fund, speaking to Reuters. "They probably did at least $500 million in net income in 2010."

The 101-page memorandum was meant for investors, who Goldman Sachs wants to raise an estimated $1.5 billion from for a future investment in Facebook. The company plans to dump an estimated $450 million of its own funds into Facebook. Goldman Sachs valued Facebook at $50 billion this week.

Source: Reuters by way of GI.biz


Comments

Re: Report: Facebook made $355 million Net in 2010

Yeah..

Everything I hear about this IPO leads me to think Goldman Saches is trying to scam investors.  The markets are bad enough right now that a lot of risk-adverse investors (i.e. the ones who got us into this mess) are scrambling for something that looks like a sure thing.. facebook is full of buzz so they figure that will be good to invest in.  Goldman Saches pumps them up, takes a huge commission, and then probably helps the current facebook owners take that IPO money and use it to invest in blue chip companies and cash out of facebook before it starts to slide.

It is the same basic pattern AOL and MySpace followed... right before they started to decline they had an overvalued IPO and instead of investing the money in their company they turned around and used it to build solid investments in older companies.. so to me this is a sign that the facebook executives believe they have peaked and need to look elsewhere for growth.

Re: Report: Facebook made $355 million Net in 2010

"...says that Facebook made $1.2 billion USD in the first nine months in 2001."

was facebook even around in 2001?

Re: Report: Facebook made $355 million Net in 2010

Nope, they went live in 2004.

The original Reuters piece said

"Facebook earned $355 million in net income in the first nine months of 2010, according to documents distributed by Goldman Sachs, a fraction of the online social network's $50 billion valuation."

 

 
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Neo_DrKefkaI was called a traitor for speaking out on harassment and I was put on a list for people on twitter to mass report me. Only GamerGate site that has come out of this that has been reputable would be TechRaptor. 2/210/25/2014 - 7:09pm
Neo_DrKefka@Neeneko The reason why I ended my support of #GamerGate was the fact KingofPol (The guy who was sent the knife) ended up saying crap about those with autism. At this point I confronted the community and some big wig writers on the #GamerGate side. 1/210/25/2014 - 7:08pm
NeenekoIt would also mean they have to confront that the sites already mostly cater to them and wiping that small percentage of otherness just does not justify new sites.10/25/2014 - 6:55pm
Neeneko@ quiknkold - problem is it has never been about freedom, it is about dominance, ownership, and priviliage. women and minorities should be the ones leaving and creating their own spaces, not them!10/25/2014 - 6:54pm
Neo_DrKefka@Mecha I hear you about KingofPol this is a guy who is using GamerGate to boost his career. Most of his streams are crap about him talking about him being drunk. What happened to him was wrong but it doesn't change the fact he has instigated much of this10/25/2014 - 5:40pm
Craig R.And I'll be perfectly happy in never seeing the phrase 'false flag' ever again, as it is one of the worst notions to ever come out of the camp of the tinfoil brigade that is already completely overused.10/25/2014 - 3:50pm
Craig R.Gone for a week and come back to find GG didn't go away at all. Dammit.10/25/2014 - 3:48pm
Matthew Wilsonif they were serious, they would go to youtube. most youtube game reviewers tend to revew games as product, and tend leave social issues out of it.10/25/2014 - 1:42pm
quiknkoldif the gamergaters were serious, they'd realize that Kotaku and Polygon arent the only games in town, and that with the freedom of the internet, they could create their own websites and achieve the goals they are trying to achieve without arguement.10/25/2014 - 1:35pm
james_fudgehe should have called the police.10/25/2014 - 1:20pm
TechnogeekAt least my statement still holds if it does turn out to be a false flag.10/25/2014 - 1:03pm
NeenekoThough I admit, since doxxing and false flag where heavily used tactics of the GG supporters, while they are not historical tactics used by detractors, I am skeptical how much it is really 'both sides' doing it in any real volume.10/25/2014 - 1:01pm
NeenekoOne thing that makes all of this messy is 'false flag' is a serious concern here. It does not help that the original GG instigators were also known for doing elaborate false flags to discredit feminism themselves.10/25/2014 - 12:59pm
MechaCrashThe guy who got the knife is the one who advocated doxxing, by the way, and was getting court documents about Zoe Quinn so he could publicly post them. It doesn't make what happened to him right, but he deserves no sympathy.10/25/2014 - 12:42pm
TechnogeekNo, that's a pretty shitty thing to do and I fully support the responsible parties getting a visit from the relevant legal authorities.10/25/2014 - 12:17pm
Neo_DrKefkaSomeone anyone tell me how two wrongs somehow make a right? This is becoming exhausting and both sides are out of there minds!10/25/2014 - 11:40am
Neo_DrKefkaSo two GamerGate supporters received a knife and syringe in the mail today. The same GamerGate supporters who said how awful it was were seen in other tweets gathering lists and sending our similar threats or harassment to shut down the other side....10/25/2014 - 11:36am
NeenekoJust look at how interviews are handled. Media tends to pit someone who is at best a journalist, but usually entertainer, against an expert, and it is presented and percieved as if they are equals.10/25/2014 - 7:38am
Neeneko@MC - Focusing on perpetrator does nothing for prevention, the media and public lack the domain knowledge and event details to draw any useful conclusions. All we get are armchair risk experts.10/25/2014 - 7:36am
Neeneko@AE - no name or picture, I like it.10/25/2014 - 7:34am
 

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