Nov. 16 (Bloomberg) — Facebook Inc. is expanding the number of retailers for its gift-giving feature that lets users buy and send items without leaving the website, part of the company’s efforts to add new revenue.The new partners include Brookstone Inc., Dean & Deluca Inc. and Fab.com Inc., Facebook said at a press conference yesterday in New York. “Tens of millions” of users can now access products via the gifting service, which was announced in September with retailers such as Starbucks Corp. and 1-800- Flowers.com Inc.
Menlo Park, California-based Facebook is trying to generate more revenue from the world’s most popular social network, with more than 1 billion users. Through yesterday, shares in Facebook have declined 42 per cent since its May initial public offering, partly on concern over its rate of mobile advertising sales growth and competition from rivals such as Google Inc., Yahoo! Inc. and Amazon.com Inc.
“There is nowhere people go more to share life’s moments than Facebook,” said Lee Linden, product lead for Facebook Gifts and founder of Karma, the gift-giving application Facebook acquired earlier this year. “It’s a huge milestone for the team, and something we think people are very much going to enjoy.”
The new feature lets users find and send gifts from a birthday reminder or from a friend’s profile. Recipients will be able to choose the colour, size or flavour of an item or exchange it for something else. The service also lets members choose whether to post the gift to a friend’s Facebook Timeline or alert them privately.
–Editors: Reed Stevenson, Ben Livesey
To contact the reporter on this story: Ryan Faughnder in New York at [email protected]
To contact the editor responsible for this story: Tom Giles at [email protected]
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