0 Facebook Doubles Firest- Half Revenue !

Facebook's revenue doubled to $1.6 billion in 2011's  first half , a source with knowledge of it's financials told Reuters , underscoring it's appeal to advertisers while its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc.

Net income in the first half of 2011 came to almost $500 million, according the source , who wished to remain anonymous because privately held Facebook does not disclose its results . Facebook's stronger results come as

investors have pushed its valuation to roughly $80 billion in private markets, with many industry observers expecting the world's No . 1 internet social network to go public in 2012. Its growing popularity among advertisers and its 750 million users has pressured entrenched web companies such ad Yahoo Inc which ousted it's chief executive carol Bartz on Tuesday . 

We really see Facebook as becoming  like the operating system for delivering ads on the CEO of Bliinq Media, which runs ad campaigns for companies on facebook .

Search leader google Inc launched Google +, a rival social network in june that attached more then 10 million users in its first two weeks , Google has yes to offer ads on its social network but it is trying  to increase Google + 's appeal  to consumers by offering games such as zynga poker and  Rovio 's  angry birds

.

Some venture capitalists and industry experts see early signs that Google + is headed down the right path in  taking a bite out of Facebook.