In search for additional income streams, Facebook has launched a service that allows users to send physical gifts to friends with a few clicks as a new commerce strategy, venturing into Amazon.com Inc.’s online shopping territory. The social network has various partners supporting this new revenue stream, including Starbucks. Using the catchphrase “Real friends. Real gifts,” Facebook has evolved from virtual cards and presents to real items. Though Facebook still can’t compete with Amazon head on due to a less stable shipping and distribution infrastructure, it’s the first step to pushing the social network brand into broader markets.
Tying this new business plan to the business plan model canvas, Facebook is expanding in multiple aspects, such as customer relationships, key partners and resources, revenue streams and value propositions. Only time will tell whether the gift service option will be a success, but personally, I think it is an ingenious move by Facebook, creating convenience and more choices for its consumers.