| SAN FRANCISCO
SAN FRANCISCO Jan 31 Facebook Inc
introduced gift cards on Thursday that consumers can use at
Target Corp and a handful of other businesses in the
social network's latest move into the retail market.
Consumers in the United States can buy the cards for
their Facebook friends and choose from four different
businesses: Target, LVMH Moet Hennessy Louis Vitton SA's
<LVMH.PA) Sephora, Jamba Inc's Jamba Juice and Darden
Restaurants Inc's Olive Garden.
A card can hold multiple gift balances, each dedicated to a
specific retailer, Facebook said.
The world's No. 1 social network, with more than one billion
users, Facebook is gradually offering more retail services,
though it relies on advertising for the bulk of its revenue.
Last year, it launched a feature that allows users to send
retail goods, such as sunglasses and pastries, to their friends
on the social network.
Facebook Finance Chief David Ebersman tempered expectations
about the new gifts business in its quarterly earnings
conference call with analysts on Wednesday.
While Facebook believes online commerce has "long-term
potential," the current revenue from such efforts is very small
and will remain so throughout the year, said Ebersman.
Shares of Facebook fell 13 cents at $31.10 in mid-day