Financial Soultions: Facebook becomes a profitable business.

PR Log (Press Release) – Sep 17, 2009 – The world’s biggest social networking site announced recently that it has turned the corner to profitability having passed the 300 million user mark and proving the Internets latest star industry can be a feasible business, Financial Soultions research indicates.

Facebook is now generating enough money to cover its operational costs, as well as the capital spending needed to sustain its rapidly expanding service.

"It's certainly meaningful to show that this is absolutely the real deal, they are executing. People are spending money on the site," said an analyst source that Financial Soultions is aware of.

Since its conception in a Harvard dorm room half a decade back, Facebook has come out as one of the Internet's most trendy destinations and is increasingly challenging the Web's established powerhouses like Yahoo Inc and Google Inc.

Facebook revealed an overhauled search engine recently, and is presently testing an online payment system. Facebook users have grown from about 100 million to the present 300 million in only a year.

Facebook CEO Mark Zuckerberg said in a blog post on the company site earlier that Facebook reached its goal of being free cash flow positive in its most recently ended quarter. The company had previously projected reaching the target sometime in 2010, Financial Soultions has learned.