Facebook’s virtual gift market is no longer a novelty so much as a secondary revenue stream. Lightspeed Venture Partners estimates that the social network’s digital goods business is worth about $35 million a year. Not bad for a business built on virtual corn dogs, cans of whoop-ass and toilet paper. As Lightspeed notes, “Given that [Facebook CEO Mark] Zuckerberg has estimated that Facebook will do between $300-$350 million in revenue this year, digital goods constitutes a meaningful secondary revenue stream for the company.”
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.
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Facebook’s virtual gift market is no longer a novelty so much as a secondary revenue stream. Lightspeed Venture Partners estimates that the social network’s digital goods business is worth about $35 million a year. Not bad for a business built on virtual corn dogs, cans of whoop-ass and toilet paper. As Lightspeed notes, “Given that [Facebook CEO Mark] Zuckerberg has estimated that Facebook will do between $300-$350 million in revenue this year, digital goods constitutes a meaningful secondary revenue stream for the company.”
