Facebook (FB) Debuts New 'Gift Cards' Initiative
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Facebook (Nasdaq: FB) is taking gifting to the next, money-saving level: gift cards.
According to the company, the new gift cards will work in conjunction with its Gifts segment. Users will be able to select a retailer and amount, then Facebook ships a gift card to the receiver so they can go out and spend at the selected location.
Facebook also noted that the Cards are reusable, saying, "after you've received a card, the next time you get a Facebook Card gift, it will instantly be added to your existing card. Your card can hold multiple gift balances, and each balance is dedicated to the retailer associated with the gift. For example, you might have gift balances of $100 at Sephora, $75 at Target, $50 at Olive Garden, and $8.25 at Jamba Juice."
For more on the initiative, click here.
The move is great for Facebook, which will save on shipping costs associated with larger gifts.
Shares of Facebook are down about 1 percent, but have been moving higher most of the session Thursday.
According to the company, the new gift cards will work in conjunction with its Gifts segment. Users will be able to select a retailer and amount, then Facebook ships a gift card to the receiver so they can go out and spend at the selected location.
Facebook also noted that the Cards are reusable, saying, "after you've received a card, the next time you get a Facebook Card gift, it will instantly be added to your existing card. Your card can hold multiple gift balances, and each balance is dedicated to the retailer associated with the gift. For example, you might have gift balances of $100 at Sephora, $75 at Target, $50 at Olive Garden, and $8.25 at Jamba Juice."
For more on the initiative, click here.
The move is great for Facebook, which will save on shipping costs associated with larger gifts.
Shares of Facebook are down about 1 percent, but have been moving higher most of the session Thursday.
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