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On many levels, Facebook is fascinating -- an interactive, image-laden directory featuring groups that share lifestyles or attitudes. Many students find it addictive, as evidenced by discussion groups with names like "Addicted to the Facebook," which boasts 330 members at Iowa State. Nationwide, Facebook tallies 250 million hits every day and ranks ninth in overall traffic on the Internet.
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In the world of social networks, Facebook is getting all the buzz. But despite Facebook's much-blogged-about $15 billion valuation, MySpace rules the roost when it comes to total members, unique visitors and advertisement dollars. In fact, according to Alexa.com, MySpace ranks as the 3rd highest trafficked website in the US (sixth place worldwide), while Facebook sits at a respectable fifth in the U.S. (seventh place worldwide). So why would College Tonight, a new social network geared toward, well, college students actively going against the two giants of the "social graph"?
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Facebook members can bet at the following address: apps.FACEBOOK.COM/betsgowild Other questions which the American public will bet on via Facebook are: "Will the US Assassinate Iranian leader Ahmadinejad by the end of the summer?" http://www.betsgowild.com/bet.php?id=831 "Are the Red Sox going to the World Series?" http://www.betsgowild.com/bet.php?id=928 "Should the legal drinking age in America be reduced to 18?" http://www.betsgowild.com/bet.php?id=999
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Despite Facebook's impressive growth figures, justifying its estimated value will be difficult. Research firm eMarketer estimates that the entire social network advertising market will grow to just $2.52 billion by 2011. And MySpace owner Rupert Murdoch already has designs on much of that market [BusinessWeek, 11/5/07].
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Facebook's new plan faces hurdles. It could upset Microsoft, which is itself trying to build technology to make it easier for advertisers to place targeted ads on Facebook. A Microsoft spokeswoman declined to comment on this issue.
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According to a statement released at 12:01am tonight, Microsoft and Facebook have formed a strategic alliance that grants Microsoft exclusive ad sales rights on Facebook. The rumored three-year deal was hashed out in only the last week after Google agreed to pay MySpace a minimum $900 million over the next three years in shared advertising revenue.
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