Facebook takes online shopping to another level with 'Facebook Gifts'
Users may send wine, cupcakes and stuffed animals
Last Updated: 165 days ago
Good news for the wine lovers/Facebook lovers out there. Today Facebook is adding a collection of wines to its Gifts option. But that’s not all the news out of the company’s headquarters today. In addition to adding bottles of red and white to its gift collection, Facebook Gifts is now available for everyone in the U.S.
Back in September Facebook launched Facebook Gifts, a service that let users give a friend a real gift — a real teddy bear or cupcake or Starbucks card. The service began rolling out then but not to all of Facebook’s U.S. users. Today, however, the gift-giving service will be available for everyone in the U.S.
“Starting today, Facebook Gifts is available to everyone in the U.S. Now you can instantly send real gifts, digital gift cards, charitable donations and wine to your friends right from Facebook,” Facebook said in a blog post today.
The service is expected to be a significant money maker for the company as it takes a percentage of every transaction. Facebook hasn’t revealed its profits from the service, but TechCrunch estimates that with Facebook’s 170 million users in the U.S. it could end up being a billion-dollar revenue stream for the now-public company. The service will add to Facebook’s advertising and virtual goods revenue, the site notes.
Facebook went public in May and has since been criticized by analysts for its performance. It offered the stock at $38 on May 18, but the stock quickly fell about 50 percent amid concerns about its slowing growth. It closed yesterday at $27.83.