FACEBOOK ADDING 50% MORE STAFF – PROJECTS $500 MILLION REVENUES IN 2009

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Facebook expects to generate almost $500 million in revenues this year.

Online social networking site Facebook is looking to expand its staff by as much as 50% this year, founder Mark Zuckerberg has revealed.

He has outlined plans to increase the number of people working for the world’s most popular social networking site from 1,000 to 1,500.

“No one else has been hiring,” Mr Zuckerberg said. “It’s been a great environment for us because the economy has helped out.”

Facebook hit 200 million registered users in April this year and its revenues, according to Mr Zuckerberg, will grow by 70% this year.

Since its humble beginnings in his Harvard University room five years ago, Facebook has tried to stay above water financially, he said.

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Mark Zuckerberg

“The first servers that I had I rented for $85 a month,” he explained.

“We’d put ads on the site and then when I had money to get another server, I’d get another.”

The company has now received investments of almost $600 million.

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