Facebook founder and chief executive Mark Zuckerberg said at the Web 2.0 Summit in San Francisco that his company plans to double the number of employees it has over the next year.

Facebook currently has more than 300 employees and Zuckerberg said he anticipated increasing the workforce to 700 employees according to InformationWeek. Facebook has over 47 million active users and is one of the fastest growing social networks.

Zuckerberg talked about the work Facebook has done to allow third-party developers to build application-programming interfaces (APIs). "It's been incredibly humbling to see all these people develop on something that's really in early development," he said. "We're going to be working on this for years, and it's going to be tens of years before this matures." He pointed out that the site has pulled in 100,000 developers.

Facebook can remove any application from its platform, leaving developers with no assurance of what they create will operate in the future. Zuckerberg said the policy was in place because the platform is relatively new and it is not certain how Facebook will progress. Zuckerberg said that applications would not be randomly removed and that the company needed flexibility.

Zuckerberg also said that product development was more important than revenue and breaking even was the goal for now. Facebook has not yet made a profit but analyst say the company is worth $15 billion. As for future revenue Zuckerberg mentioned ads and said announcements would be coming in the months ahead.

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