Wednesday, June 3, 2009

Facebook's New Path to Profitability


Facebook anounced that it is introducing a payment system and a site-wide currency of credits for the purchase of virtual-goods on the site from Facebook and third-party applications.

This anouncement come on the heals of last weeks investment of $200 million investment from Digital Sky Technologies, a private Russian internet investment group.

The payment systems is new means of monitizing Facebook, which is something that has aluded socail networks thus far. Users undoutably with feel more comfortable giving Facebook their credit card information for purchases, rather than the hundreds of application creators using the system as a platform.

With this Facebook will undoubtably will encourage commerce and capture a percentage of every transaction on the Website by serving as the payment provider.

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