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Facebook hits 300 million user milestone


Facebook has breached the 300 million user mark and is heading towards profitability, according to founder Mark Zuckerberg. Skip related content The social networking site now has an online population equalling that of the US, although the company did not say what percentage of that population had active accounts. However, the service is now making a profit. "We are succeeding at building Facebook in a sustainable way. Earlier this year, we said we expected to be cash flow positive sometime in 2010, and I am pleased to share that we achieved this milestone last quarter," said Zuckerberg."This is important to us because it sets Facebook up to be a strong independent service for the long term."

Since its creation in a Harvard dorm room five years ago, Facebook has emerged as one of the Internet's most popular destinations and is increasingly challenging the Web's established powerhouses like Yahoo Inc and Google Inc.


Mark Zuckerberg (founder and CEO of Facebook)

The company said that its users spend a total of six billion minutes on Facebook every day, and that 40 million users update their status at least once a day. Around 70 per cent of the site's users are outside the US, and residents of over 180 countries visit the site.




   


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