When I first read this title I was a bit surprised but after thinking a bit over it, this must be true. If you are a college student with a Facebook account then you know how important it is. For me it is the place to find out about events, times and locations. To promote a student organization or club and to just find people you know around school and keep in contact with them. Facebook also became a lot richer when Microsoft invested $240 million on them. Facebook has been smart because they have run the add business pretty well and ads are now one of the most competing markets in the internet. This news also means that Facebook is beating MySpace in terms of money. But that isn’t to surprising because MySpace barely runs ads on users pages.

Source: TechCrunch