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Facebook Inc.'s business is growing faster than it forecast several months ago, raising the stakes for an initial public offering as early as spring of next year, said people who have seen Facebook's recent financial information.
One of these people said the company is on track to exceed $2 billion in earnings before interest, taxes, depreciation and amortization, or Ebitda, in 2011. That is above the numbers from Facebook that circulated several months ago when Goldman Sachs Group Inc. and Russian investment firm Digital Sky Technologies invested in the closely held Internet company.
This person wouldn't say by how much Facebook might beat that earnings guidance.