Facebook Corporation has started researching the new avenues which could bring in more revenue to the company. According to Financial times report, Facebook is all set to launch the new career oriented professional website which would eventually challenge world’s popular professional networking site LinkedIn. This attempt from Facebook is to help its users divide their professional activities and network from their personal online social activities.
It is reported that Facebook has decided to keep the look of the professional network in same Blue and White like Facebook, but it doesn’t let the users to chat and connect only with co-workers. It also let the users to collaborate on document such as Google Docs and Microsoft Office 365. This new network has not been tagged with a name and at present this new project is named as Facebook at work. Besides this also help the Facebook to get the entry pass to all companies where online social network is banned due to nature of content and sharing of personal stuff.
Financial Times has reported that,
[quote]The new site will look similar to Facebook- with the newsfeed and groups- but will let the users to keep their personal profile with its holiday photos, political rants and silly videos separate from their work identity.[/quote]
Facebook is trying to lure the professional users and is drafting the strict guidelines for all users of new professional network. This will benefit the users to stay connected with the clients, colleagues and seniors who don’t like to scroll through personal information such as opinion, photos and shared links.
The increasing number of users on Facebook, declining reach of updates of pages and billions of daily updates probably convinced Facebook to divide its user base. In September, Facebook’s valuation has crossed over $200 million and it recorded a phenomenal growth in user base and revenue. For the last three quarters the growth of user base has became the concern for Facebook team. While the US market is saturated, most of the new users are joining from Asia Pacific region, but not making too much contribution to its revenue. In 2014 Q3, revenue from Asia Pacific region is limited to just above $1, where as Europe, US and Canada contributed more than $4 per user.
The new project Facebook at work will let the company to convince its users to spend the dollars against premium services. It won;t be surprising to see if the Facebook introduces the premium version of the brand pages with the add-on features on the new network at certain price.