Facebook raking in over $1 billion

Facebook eclipsed MySpace a long time ago in terms of users, and its revenue is finally growing to match. According to sources close to Facebook, the company is about to hit a $1 billion run-rate, as opposed to the $550 million of last year. Frankly, we're surprised this didn't happen sooner, givne the rate at which Facebook has been growing. It's almost exponential, with 350 million users logging on to Facebook at any particular point in time and the number only expected to grow.

What does this mean for social and casual gaming applications on Facebook? First, expect even more applications to show up on Facebook, as it has the widest potential audience and highest addiction rate out of most social gaming services. Second, companies like Zynga will be seeing even further increase in their profits for the immediate future, as more players equals more money.

[via Silicon Alley Insider]