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Facebook Will Beat Revenue Targets This Year, Hit $2 Billion

Facebook will hit $2 billion in revenue this year, up from targets of around $1.5 billion, more than doubling from $700 to $800 million last year, Bloomberg reports citing three anonymous sources.

This is mostly because ad agencies are done experimenting with Facebook, have figured out what works and what doesn't, and are now spending big. Facebook now has a stunning 9.4% of US display advertising marketshare, behind only Yahoo at 16.2%, and ahead of Google at 6.7%.

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