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Facebook beats eBay, becomes third largest web company in U.S.
By siliconindia
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Wednesday, 17 November 2010, 08:47 IST |
1 Comments
Houston: The popular social networking site Facebook has ranked as the third largest web company, with a valuation of $41 billion, an amount greater than eBay with $39.4 billion.
Facebook's latest valuation is based on the selling price of shares on SecondMarket, an exchange for privately held companies, according to Bloomberg. The valuation makes it the third-largest online business after Google ($192.9 billion) and Amazon ($74.4 billion) in the U.S.
The forecasted revenue and worth of Facebook in the public market is theoretical as the company is yet to go public. This year, the company is expecting sales of at least $1.4 billion. Facebook's value has been growing for almost three years now, but it seems to be accelerating recently.
While the company is growing at a faster pace, its revenue is not yet that much impressive. That's the reason the company is not filing for an IPO.
Since September 2009, when it had 300 million members, Facebook's users have increased by more than two-thirds. It surpassed Google as the most visited Web site in the U.S. in March.