Facebook Inc., which is currently considered the world’s largest social network, plans more acquisitions so to improve its site design, keep services more reliable and advance its mobile features to compete with Twitter and Google which are active in the same arenas.
Facebook’s director of corporate development, Vaughan Smith stated that, the company aims to make approximately 20 purchases in year 2011 which is up from 10 last year and one in 2009.
It is important for our blog readers to know that Facebook obtains income from advertising and takes certain commission when software developers sell virtual goods on its website. As we know, Facebook is a closely-held company and it does not disclose its financials. Based on my research, the company is seeking to generate $2 billion or more in earnings before interest, taxes, depreciation and amortization in 2011.