Facebook bucks online ad slump
Facebook Inc. is expanding amid the worst market for Internet advertising since the dot-com bust. Founded in 2004, the social-networking site has raised more than $400 million in equity funding. The site is identifying ways to continue growing by increasing the use of advertising.
The company has sufficient funding to overcome the economic slump and is adding new forms of interactive advertising that will boost sales 70% this year, according to Chief Operating Officer Sheryl Sandberg.
"Facebook is so popular that it can really generate a great deal of equity using advertisements"
Source: http://www.freep.com/article/20090510/BUSINESS06/905100481/1019/BUSINESS/Facebook+bucks+online+ad+slump
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