Facebook, the world's largest social networking site, recently announced that it has 300 million active monthly users around the globe. Facebook was not expected to turn a profit until 2010 but has also announce their cash flow is started to trickle in.

Reports suggest that revenue is supported by applications sold through the site and also by online advertising. (Source: theatlantic.com)

Facebook founder Mark Zuckerberg recently blogged on the importance of their achievement, and he remains ambitious about the site's future.

"This is important to us because it sets Facebook up to be a strong independent service for the long term. We are succeeding at building Facebook in a sustainable way. We are just getting started on our goal of connecting everyone," said Zuckerberg.

Facebook's Goal: 1 Billion Users Served

The announcement of Facebook's milestone achievement was announced at TechCrunch 50, a conference for start ups in San Francisco.

In July, Facebook reached the 250 million user mark. Facebook estimates that it is gaining around 5 million new users a week, which calculates to 50 million in the past 75 days.

The hard work appears to be paying off for Facebook thus far, whose goal is to eventually reach 1 billion users world-wide (Source: bbc.co.uk)

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