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Facebook ’10 sales to hit $2B

Facebook Inc., the world’s most popular social-networking service, is likely to generate 2010 revenue of about $2 billion, a larger sum than projected earlier, according to three people familiar with the matter.

PALO ALTO – Facebook Inc., the world’s most popular social-networking service, is likely to generate 2010 revenue of about $2 billion, a larger sum than projected earlier, according to three people familiar with the matter.

Sales will more than double from 2009, said the people, who declined to be identified because the privately held company doesn’t disclose revenue.

Facebook’s more than 500,000 users have made it an attractive target for advertisers, including Coca-Cola Co., JPMorgan Chase & Co. and Adidas AG. In October, Facebook surpassed Yahoo! Inc. when ranked by the number of global users, making it No. 3 behind Google Inc. and Microsoft Corp., according to ComScore Inc., a research firm in Reston, Virginia.

 
 
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