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

   

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

Pictures of the dead

Reuters Showcase

Expansion Target

Expansion Target

Snapchat in talks to expand services - WSJ.  Full Article 

Samsung Deal

Samsung Deal

Samsung buys U.S. air conditioner firm Quietside in "smart home" push.  Full Article 

Ballmer Quits

Ballmer Quits

Ex-CEO Ballmer quits Microsoft board to focus on NBA's Clippers.  Full Article 

Silicon Valley Women

Silicon Valley Women

Despite lip service, Silicon Valley venture capital still a man’s world   Full Article 

Cyber Attacks

Cyber Attacks

U.S. government's nuclear watchdog victim of cyber attacks - report  Full Article 

'Heartbleed' Bug

'Heartbleed' Bug

U.S. hospital breach biggest yet to exploit Heartbleed bug - expert  Full Article 

Reuters India Mobile

Reuters India Mobile

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