Interesting. Not only is Facebook the purveyor of wasting time, it’s also barely a profitable company compared to others. My colleague Owen Weldon over at DigitalJournal.com posted a short but interesting article regarding the social networking juggernaut’s revenue model.
Facebook reported that it made only $64 million in profit on $1.59 billion in revenue. That works out to about $0.50 per user each month through revenue. That’s amazing considering most people spend hours on the website, had an astronomical IPO and even a motion picture was made about it.
What’s worse is that when Facebook is compared to other Internet giants, like Amazon, it’s hardly a profitable firm.
It’s been long argued that it’s a waste of an investment, especially considering that it doesn’t really do anything other than connect people and produce narcissistic teenagers and arrogant adults.
With that being said, be sure to follow Economic Collapse News on Facebook and Twitter!
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