Published on November 7th, 2009 | by Saurabh Pandey3
How is Facebook Going to Make it’s 1st Billion Dollars?
Do you know that there may be a social networking site which is bigger or almost equal to Facebook?
And do you know it earns 2-3 times more than Facebook already?
That site is Qzone (Tencent), and it earns over a billion dollars in revenues per annum. How did this happen? And what can Facebook do to catch up quickly?
‘I will cite a personal example- just before Diwali I was playing this awesome game on Ibibo.com called Teen Patti. I had less money (virtual)- but great cards. My competition had 10 times more money (virtual) than me, but couldn’t have better cards than me. I had an option of getting 10000 credits by sending a premium SMS. In the excitement and heat of game.. I quickly sent 2-3 SMSs so that I could pre-empt competition moves, and it’s only after the game finished and I won that I realised that I had made at least 8-9 SMSs (about Rs 50-real money).’
Here is an interesting and well researched whitepaper on the Future of Monetization for Social Networks and Social Gaming companies- rightly christened as’ HOW IS FACEBOOK GOING TO MAKE IT’S 1ST BILLION DOLLARS? Download it rightway from here.
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