By August 31, 2006 January 6th, 2007 No Comments

Facebook logo 

There is a good profile on Facebook, the second largest social network here.  Of interest:

  • It is entirely advertising/sponsorship focused
  • Unlike all its competitors it is only available to a closed group – College Students
  • Their usage stats are amazing – 85% of college students have an account and 60% log in daily
  • It has had $40m in VC
  • Photos (a key driver of stickiness on many sites) are an important feature
  • As are real world event (read parties) organisation tools
  • They have sponsorship deals with Apple (10 million iTunes sample players to give away) and JP Morgan Chase for credit cards

They have done a deal with Microsoft that rivals Google’s Myspace deal, although the amount is undisclosed.

There is a deep penetration of a demographic here that gives a feeling of sustainability, particularly as it becomes a tool by which College friendships are maintained after school.