Facebook’s struggling stock is forcing a major rethink over the social network’s business model. Last year, Facebook credits, used in games like FarmVille to buy virtual goods, accounted for 15 percent of the company’s total revenue. Its latest moves will hope to increase those kinds of transactions. Firstly, items will no longer be priced in Facebook credits, but rather the local currency unique to each user, making it more comfortable for users to spend. Additionally, Facebook is extending its marketplace to include services that require monthly payments—previously, it was restricted to vendors who only accepted one-time only payments—so the likes of Spotify will stand to benefit. Facebook’s 30 percent take should yield some better returns.
[via New York Times]