Facebook Co-founder and CEO Mark Zuckerberg announced on September 15th that the world's largest social network became "cash-flow positive" in the second quarter, ahead of schedule. Previously, Facebook had said it was targeting profitability "sometime in 2010."

Facebook Co-founder and CEO Mark Zuckerberg announced on September 15th that the world's largest social network became “cash-flow positive” in the second quarter, ahead of schedule.  Previously, Facebook had said it was targeting profitability “sometime in 2010.”  The network also announced it crossed the 300 million registered-user milestone.

AdAge observes that the most interesting aspect of this announcement lies in the fact that Facebook itself is still figuring out the right ad model for social networking, beyond low-cost display ads.  Facebook's other revenue models include virutal gifts and branded pages/groups, and commerce.  With a payments system now in the testing phase, Facebook will continue to evolve its business model to maintain profitability.

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