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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 had $700 million to $800 million in sales last year, and the 2010 figure was previously expected to be closer to $1.5 billion, according to two other people familiar with the matter earlier this year.
If history holds, TIME has just marked the top in the value of Facebook — at least for the foreseeable future. The Bezos cover marked the high point in Amazon.com’s stock for the next 10 years.
Given the challenge in monetizing that massive user base, $33 billion seems pretty rich. Time will tell if, like Amazon, Time just marked a decade long top in Facebook valuation. History suggests that it's a pretty good bet it did.