Facebook’s Future: Dim or Promising?

July 06, 2009 | Sarah Chong http://www.penn-olson.com/2009/07/06/facebook%e2%80%99s-future-dim-or-promising/

With so many Social Media sites competing for a share of online users’ time, is Facebook losing its market share?

Apparently not.

In merely 3 months after it first crossed 200 million users, Facebook had 25 million new users added to its community. The numbers are still expected to grow rapidly every day.

According to Reuter’s interview with Silicon Valley entrepreneur Mark Andreessen who sits on Facebook’s board, Facebook’s revenue is likely to hit billions wit hin 5 years, an increase from the expected $500 million this year.

However, many expressed that Facebook could do better with 225 million users in its pocket. With so many users, it could be making billions sooner by pushing monetization (not as hard as MySpace, of course). But first, Facebook’s main focus should still remain to be in improving its services and drawing new users.