Facebook starts selling retail gift cards on website
Published on Feb 1, 2013 5:59 AM
SAN FRANCISCO (REUTERS) - Facebook Inc introduced gift cards on Thursday that consumers can use at Target Corp and a handful of other businesses in the social network's latest move into the retail market.
Consumers in the United States can buy the cards for their Facebook friends and choose from four different businesses: Target, LVMH Moet Hennessy Louis Vuitton SA's LVMH.PA, Sephora, Jamba Inc's Jamba Juice and Darden Restaurants Inc's Olive Garden.
A card can hold multiple gift balances, each dedicated to a specific retailer, Facebook said.
The world's No. 1 social network, with more than one billion users, Facebook is gradually offering more retail services, though it relies on advertising for the bulk of its revenue.
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