Facebook finally makes money(5:38)Sep 15

Sheryl Sandberg, the social networking site's COO, announces 300M users and positive cash flow.

One of the questions that many people ask about Facebook is if it is 'making money'. Actually it's the question that many people ask of all social media platforms.

On the 15 September, Sheryl Sandberg the COO of Facebook announced that Facebook is now cashflow positive and that they had reached 300 million users (Ireland is fast approaching 1 million users which is almost a quarter of the country's population). She also comments that their priority was in building the membership base.

While there are 300 million users overall - 55 million of them are mobile users.

She also comments that advertising spend on Facebook has increased as marketeers are looking for more effective ways to advertise - the ability to demographically target your Facebook ads makes your online advertising spend must more cost effective than banner advertising for example.

Sheryl also comments that Facebook's goal is not for Facebook to be 'the one place' to come to on the Internet - they do however aspire to be the technology platform to allow people to connect with who ever they wish to, wherever they are.

It is a really good video and one worth taking 5 minutes to watch.

And remember if you would like to connect to me on Facebook, you can join me - and you can leave your digital marketing and social media questions which I will do my best to answer for you:

http://www.facebook.com/marketingmentor - marketing and social media with an Irish Focus

http://www.facebook.com/bizgrowthnewdia - marketing and social media tips from my business

How are you using Facebook to connect to friends and fans?