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WEDNESDAY, NOVEMBER 25, 2009
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Facebook Looking to Cash In on Its Friends

Wants info of 150M members to be market research gold mine

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(Newser) – Facebook will create one of the world’s largest market research databases in an attempt to profit from the personal information it collects from its 150 million members, the Telegraph reports. The social networking site’s new instant polling tool, which will enable companies to target specially selected users, was introduced last week at the World Economic Forum in Davos.

“I had tons of people saying, ‘This could be so incredible for our business,’” recalled the company’s global markets director, adding that execs “liked the instant responses.” Facebook, which has been trying to revise its image as the online hangout of students, was once valued at $15 billion, but one analyst, referencing the recession, called the figure “exaggerated.”

Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.
Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.   (AP Photo/KEYSTONE/Peter Klaunzer)
Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.
Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.   (AP Photo/KEYSTONE/Peter Klaunzer)
In an attempt to monetize the social networking site, Facebook will soon allow companies to selectively target its members to research the appeal of new products.
In an attempt to monetize the social networking site, Facebook will soon allow companies to selectively target its members to research the appeal of new products.   (AP Photo/Eric Risberg)
Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.
Facebook is planning to exploit the vast amount of personal information it holds on its 150 million members by creating one of the world's largest market research databases.   (AP Photo/Paul Sakuma)
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The vast majority are not just college students in the US talking about things in their bedrooms. We are showing how we are a serious and insightful community. - Randi Zuckerberg, Facebook's global markets director, on the site's members

The book value of some social networks may be written down and some companies may fail altogether if funding dries up.
- Paul Lee, analyst

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