F-commerce: Will Facebook e-commerce be next big thing? | business | Hindustan Times
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F-commerce: Will Facebook e-commerce be next big thing?

A group of e-commerce start-ups, backed by some of the tech world’s most pedigreed financiers, are betting that Facebook can become an e-commerce powerhouse to rival Amazon.com and eBay.

business Updated: Apr 05, 2012 23:44 IST

A group of e-commerce start-ups, backed by some of the tech world’s most pedigreed financiers, are betting that Facebook can become an e-commerce powerhouse to rival Amazon.com and eBay.



As the world’s largest social network hurtles toward a $5-billion IPO, it will come under more pressure from Wall Street to find new sources of profit growth and reduce its reliance on advertising, which accounted for 85% of its 2011 revenue. http://www.hindustantimes.com/Images/Popup/2012/4/06_04_biz7.jpg

Start-ups such as BeachMint, Yardsellr, Oodle and Fab.com are coming up with novel ways to persuade FB users to not just connect with friends on the social network, but to shop as well.

Backed by venture capital firms such as Accel Partners and Andreessen Horowitz, and other big investors like Goldman Sachs, these start-ups are pushing out shopping apps, hosting online garage sales and testing out new business models on Facebook.

“E-commerce is a huge category with very strong tailwinds and it’s a natural move for Facebook,” said Sam Schwerin of Millennium Technology Value Partners, which owns Facebook shares.