Facebook borrows $100m to cope with rapidly growing user rates

18:15 Mon 12 May 2008

Facebook is reported to have borrowed $100m from TriplePoint Capital to expand the company's server farms which are struggling to cope with the social networking site's rapidly growing user rates.

The unique user numbers on the social networking site have risen from 32m to 109m worldwide since 2007, and it seems that Facebook's techies, doing their best Scotty from Star Trek impression, have been yelling 'Captain, she can't take any more', at Facebook CEO Steve Zuckerberg.

Facebook is set to purchase another 50,000 servers to add to the 10,000 that it currently owns. The social networking giant is also expected to be hiring in the future with the current staff of 450 expected to rise to 1,000.