Facebook borrows money
Posted on May 27, 2008 at 9:21 am.
Filed Under Business |
Facebook’s explosive growth needs more cash. Facebook has borrowed $100 million recently from Calif.-based venture loan firm TriplePoint. The loan will help to buy approximately 50,000 more servers. In January this year Facebook elevated its projected revenue from $300 million to $350 million. In 2007 its revenue was $150 million. Facebook has approximately 70 million registered users.
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