Yesterday, TBI Research released a research note projecting that Facebook will top $1 billion in revenue in 2010. This follows an earlier estimate of $710 million from NYPPEX, a private equity advisory firm.

In the note (covered by The Business Insider blogger Nicholas Carlson), TBI Research analyst Rory Maher said that the revenue estimate “demonstrates the strong growth potential [for] social media and local online advertising.” TBI Research is a part of The Business Insider.

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