June 21, 2010

Facebook finally posts a profit

TECHNOLOGY - Facebook, the darling juggernaught of social networking websites, has finally posted a profit of $800 million for 2009.

Apparently that means that advertisers on Facebook (typically ads for personals, weight loss, Viagra, get-rich-quick-schemes and other dubious companies) have lots of money to blow. Advertising on Facebook is the lowest denominators.

Facebook has been growing strongly since 2004, but membership actually went down in 2009 as many people became disenfranchised with the social networking site, either deleting their accounts or simply ignoring all the idiotic pokes, hugs and endless posting of drunken party photos, someone's dog or daily quips about how people are feeling.

Facebook is small potatoes compared to Yahoo! Inc. and Google. Google had $24 billion in annual revenue in 2009.

Advertisers are not the only source of revenue for Facebook. The company also tracks marketing trends by snooping on their members' interests. Claiming to know what the public wants is big business for the marketing industry.

Apparently most Facebook users want to lose weight and find love.

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