Facebook is richer in concept than cash

Many might say Facebook is an obvious success, with more than 200 million users according to the site’s Press Room.

As a social network, yes, I believe Facebook is extremely successful.  I’m sure many Social Media experts would agree. I know very few people who do not have a profile, and those who do check it religiously.

Who would argue against its prosperity? Well, the business world.  An article from Fortune magazine, as found on CNN.com, says  Facebook is “somewhere in the middle” based on revenue.  Although called a “sizable business,” it is “not wildly profitable, if indeed it is profitable at all.”  Be sure to watch the video so I can stop all the quoting!

This shows Facebook from a different angle.  Besides a place to share pictures and catch up with old friends, the site is vital to businesses that rely on it for networking and growth.  Facebook takes care of other establishments, but it needs to take better care of itself for everyone’s sake. I am aware that the social site is no where near a financial crisis, but change may need to come soon.  With so many entrepreneurs and big businesses alike using Facebook, will the pressure cause this change in how the site generates revenue?

The criticism from a business perspective is perfectly understandable–not many college students, or anyone else  for that matter, use Facebook as a consumer tool.  Advertisements on the page are either ignored or annoying to users rather than viewed as helpful resources.

I’m sharing this because it’s interesting to see Facebook as its own business, rather than a luxury for other businesses to use for easy networking.  So will Facebook ever transcend from the addicting social tool we all love into an Internet money-maker? I have faith.