With its U.S. advertising revenue nearing $2.2 billion in 2011, Facebook will become the largest profiteer of display advertising. With a valuation around $80 billion, Facebook’s profit stems from owning 17.7% of the display ad market. This isn’t just a trend for Facebook–other web portals will see advertising growth as more dollars move online. In other news, the FCC recently announced that it would work to stop cellphone companies from overcharging its customers. The commission has received many reports from customers getting nickel-and-dimed with repeated unauthorized monthly charges. The FCC estimates that up to 20 million Americans are currently being overcharged. And finally, Google has struck a deal with the British Library to make 250,000 items from its collection available online. It will take Google 3 years to digitize the out-of-print texts, ranging from colonial history to pamphlets about Marie Antionette. Google has already scanned 13 million books worldwide.
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