Facebook Makes Money, Hits Member Milestone

Facebook, the popular social networking site, revealed that it is now home to 300 million users worldwide and, importantly, is cash-flow-positive for the first time.

"As of today, Facebook now serves 300 million people across the world. It's a large number, but the way we think about this is that we're just getting started on our goal of connecting everyone," Mark Zuckerberg, CEO of Facebook, wrote in a blog post.

In addition to the sheer number of users Facebook is currently serving, the social network appears to be finding its financial footing -- and is doing it ahead of its own predictions.

"We're also succeeding at building Facebook in a sustainable way. Earlier this year, we said we expected to be cash-flow-positive sometime in 2010, and I'm pleased to share that we achieved this milestone last quarter. This is important to us because it sets Facebook up to be a strong independent service for the long term," Zuckerberg wrote.

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Companies or individuals looking to purchase the social network can probably read that statement as the same as a "Not For Sale."

The milestone of 300 million users comes quickly on the heels of the last publicly announced number, 250 million users, which Facebook hit on July 15.

Of course, Facebook isn't alone in its growth, with Twitter also seeing huge growth as more people begin to adopt the service for business as well as personal means.