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.
Also, Facebook was able to raise more than $2 billion from investors, including $1.5 billion from an investment led by Goldman Sachs Group, Inc. sometime on or about January 2011.
Experts in the field believe that the future of all computing is mobile. Hence, it is probably high-tech company's (e.g., facebook, google, twitter) top priority. For example, Snaptu, which is a mobile startup Facebook acquired earlier this year, was purchased for approximately $60 million.
I believe that mobile computing will be changing applicable technology and certain state and federal laws. Issues such as privacy, security, intellectual property, e-commerce, and constitutional law will arise in the near future. I also believe that Facebook's future is promising due to the substantial financial backings by optimistic investors. However, the future of technology is uncertain and as we know, the legal system must catch up with the rapid changes.