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. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size. 11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
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.”
