Facebook starts selling retail gift cards on website

SAN FRANCISCO Fri Feb 1, 2013 12:15am IST

A women works with her computer which displays Facebook logos on the screen in Bordeaux, Southwestern France, January 30, 2013. REUTERS/Regis Duvignau

A women works with her computer which displays Facebook logos on the screen in Bordeaux, Southwestern France, January 30, 2013.

Credit: Reuters/Regis Duvignau

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

SAN FRANCISCO (Reuters) - Facebook Inc(FB.O) introduced gift cards on Thursday that consumers can use at Target Corp (TGT.N) and a handful of other businesses in the social network's latest move into the retail market.

Consumers in the United States can buy the cards for their Facebook friends and choose from four different businesses: Target, LVMH Moet Hennessy Louis Vitton SA's Sephora, Jamba Inc's (JMBA.O) Jamba Juice and Darden Restaurants Inc's(DRI.N) Olive Garden.

A card can hold multiple gift balances, each dedicated to a specific retailer, Facebook said.

The world's No. 1 social network, with more than one billion users, Facebook is gradually offering more retail services, though it relies on advertising for the bulk of its revenue.

Last year, it launched a feature that allows users to send retail goods, such as sunglasses and pastries, to their friends on the social network.

Facebook Finance Chief David Ebersman tempered expectations about the new gifts business in its quarterly earnings conference call with analysts on Wednesday.

While Facebook believes online commerce has "long-term potential," the current revenue from such efforts is very small and will remain so throughout the year, said Ebersman.

Shares of Facebook fell 13 cents at $31.10 in mid-day trading.

(Reporting by Alexei Oreskovic; Editing by Jeffrey Benkoe)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Apple

REUTERS SHOWCASE

Hacking Threat

Hacking Threat

All at sea: global shipping fleet exposed to hacking threat.  Full Article 

Mt. Gox Update

Mt. Gox Update

Tokyo Court orders bankruptcy trustee to begin Mt. Gox liquidation .  Full Article 

Net Neutrality

Net Neutrality

U.S. regulators to propose new net neutrality rules in May.  Full Article 

Facebook Results

Facebook Results

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article | Related Story 

Huawei Shrugs

Huawei Shrugs

China's Huawei says reports of NSA spying won't impact growth  Full Article 

Betting on Content

Betting on Content

AOL, Microsoft lure advertisers with TV-style shows.  Full Article 

Restructuring Plans

Restructuring Plans

Zynga's Pincus withdraws from operations amid turnaround.  Full Article 

Security Threat

Security Threat

FBI warns healthcare sector vulnerable to cyber attacks.  Full Article 

Online Streaming

Online Streaming

Amazon grabs rights to stream older HBO shows.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage