If a new report from TBI Research is accurate, Facebook “is about to hit a $1 billion annual revenue run-rate”. We have been expecting Facebook to blast through their previously stated $500 million projection for this year, and surpass all the publicly available projected numbers for next year. If all goes well, Facebook could easily surpass $1 billion in revenue next year as the site grows beyond 500 million users.

Growth for Facebook does appear to be slowing down, however a 30 percent growth in the company’s user base is relatively conservative. If at 375 million users the company is able to generate $1 billion annually, Facebook should easily surpass current projections. Facebook is also in the process of making their new Credits platform a more integral part of Facebook.

While it’s too early to project how well Facebook’s Credits platform will perform, the system could easily account for a $500 million boost in revenue once completely integrated into the Facebook Platform. The rationale behind this projection is that Facebook games are nearing $1 billion in annual revenue and we’re still at the early phase of the virtual goods economy.

At this point, many projections are back of the napkin projections, however there’s a strong basis for Facebook to exceed current revenue projections for next year. As for next year’s IPO that many analysts are anticipating, Facebook will need to prove to investors that they have a solid growth for shares to grow in the public markets. For now, we’ll have to keep playing the Facebook valuation parlor game until more information is made available.