Friday, September 28, 2012

Facebook Inc (NASDAQ:FB) to transcend the world of Virtual Gifts, Shares Trim Weekly Loss

It is said that it’s the gesture that counts. But virtual chocolates can only take you so far. Facebook Inc(NASDAQ:FB) has come up with a new service, which will let people send each other real gifts, without having to actually walk out of their homes, or without even logging off Facebook. The new service, is to be called, (surprise, surprise) Gifts. This service will allow people to send each other toys, chocolates, coffee packages, and other such things, through Facebook itself.

The service was launched on Thursday, although it was available only to a handful of users in the U.S, the service will slowly become available to many more. A few months, and it will trickle down to be applicable to all the people who have profiles over Facebook.

And the process is so simple, it makes one doubt why. One simply has to click on the icon which says ‘Gifts’, and the process will be underway. The facility is available over the website as well as on android phones, although the social-networking site is working towards introducing this facility to iPhones as well as iPads.

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This icon will be situated on the right side of the homepage of a user’s profile, along with the notifications which tell people about the upcoming birthdays, events anniversaries, and other important social occasions. After the gift is chosen and directed to the recipient, the recipient will then have to confirm about receiving the gift, because he/she will have to type in the address to which the gift will be sent.

The facility will also offer some people the change of exchanging their gifts for other items, and in some cases they may even get to choose the kind of gifts they want to receive, such as chocolates they like, or which brand of coffee they would prefer.

This is Facebook’s introduction into the world of e-commerce. The company came up with this idea after they acquired the small San Francisco start-up called Karma. They bought the company on the 18th of May, after it went up for public offering. Karma used to run a mobile application which used to let people order gifts for one another over their phones. 

Shares of FB recovered 7% in mid day session on Friday after slumping 11% earlier in the week. After, today’s gain the stock is on the way to post a decline of 5.50% for the week.

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