Facebook has managed to double its income since last year in just the first half of 2011 to $1.6 billion. Part of the social network’s success comes from earning an estimated $500 million last year from the sale of Facebook Credits. These credits are used to purchase virtual goods from the slew of games being played every day and Facebook is raking in 30% of every sale. Read the full article at WSJ.com
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.
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