For most business executives, Facebook remains a remote, somewhat mysterious, online frontier. Many executives harbor strong doubts that Facebook is at all relevant to “real business.”
Let’s start with the stats. Facebook now brings together 66 million online users. While many of these users are students and recent graduates, users 35 years old and older account for more than half of Facebook’s daily visitors and are the network’s most rapidly growing demographic.
Currently the average Facebook visitor spends about 2.5 hours per month on the site, which was founded in February, 2004, and was valued at $ 15 billion three years later when Microsoft purchased a 1.6% share of the company.
Facebook is still largely a social environment where very little commerce occurs. In fact, many businesses have expressed concern about the low click-through rates on advertisements placed on such social network sites. Products are generally not bought or sold on Facebook, but it is becoming an important site for creative talent and businesspeople to achieve visibility and build networks.
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The Economist has launched a new profile page on Facebook as another way for you to get updates about us and interact with fellow readers. To view the page, simply type in “The Economist” in the search bar. The page offers the latest site updates, article headlines, videos, KAL’s cartoons and the chance for you to comment on anything Economist on the “wall.”
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