Capitalizing Towards GGobal Reach
Reach of this new medium.
For instance, earlier this month QMI reported that Facebook’s Mark Zuckerberg announced the popular social media network has broken one billion users per month, an astronomical number.
“Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life,” Zuckerberg wrote on his website.
While Facebook does face problems related to its share price and Wall Street, the opportunities offered by this latest achievement are already being explored.
Not long after the one billion users announcement came word Facebook is testing a feature that will allow it to partner with retailers through the use of a “want” button.
This foray into e-commerce will see Facebook work with seven retailers and will allow certain users to flag images of products by clicking on the special “want” button, reports Reuters news agency.
Called Collections, this new feature could open new revenue sources for Facebook, allowing it to monetize its massive global reach.
While Collections will not be offered to all Facebook users initially, its availability is going to expand.
Another social network looking at some changes is LinkedIn which has announced it is moving in a Facebook-like direction, by allowing its users to follow and receive updates from people outside their personal contact list, according to Reuters.
Previously, the professional social network which has 175 million members, has been closed, allowing people to create their own networks of business contacts. Many people use LinkedIn for job searches and other professionally-nuanced functions, but this new direction seems aimed at encouraging people to spend more time on this network.
It will take time to see what impact these and other similar shifts have on social networking, but the trend to try and expand networks and further monetize them seems clear.
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