Facebook has officially announced that it has just raised $1.5 billion in funding at a $50 billion valuation, according to a release issued today...
I have to admit I am no business expert but what exactly does Facebook do with $1 billion? The current revenue has to be keeping up with the day to day expenses (servers, bandwidth, employees, etc.). They don't sell actually products so there is no need to keep inventory on hand. I could be way off and the revenue is not covering monthly costs or maybe Facebook is working on that phone. If they are not profitable yet then what would need to happen to make the site profitable?
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