So it has been well circulated that Facebook would be bringing in approximately $150 million in revenue during 2007. Now, thanks to a conference call with Zuckerberg, Kara Swisher has released the 2008 Facebook numbers. The numbers are impressive yet it looks like Facebook is going to raise the expenditures this year.
According to Kara Swisher, Facebook is going to bring in revenues of around $325 million which is more than double than last year. In addition to doubling their revenue, Facebook is going to increase their capital expenditures to purchase more servers and attempt to more than double their workforce to 1000 employees. This is is going to result in a negative cash flow for 2008. Facebook has the money to spend though with investments from Microsoft and rumored investments from private investors and potentially Nokia.
However much money Facebook is making, many were questioning the logic of Zuckerberg to release their revenue projections for the upcoming fiscal year. This puts into question Zuckerberg’s ability to maintain his position as CEO of the company. So far he has been a shy individual who has successfully won over Robert Scoble. Robert Scoble hasn’t exactly been know for keeping the beat of the market though.
As such, we have to wonder if Zuckerberg can maintain his role as CEO or if somebody else will soon have to fill this role. Do you think Zuckerberg has stepped out of line with releasing private financial information? Do you think the investors will soon find an executive to fill the role of CEO?