One of the challenges for social networking sites has been generating revenue through ads. Facebook, one of the largest names in social networking is also included in having trouble, but a new deal (which includes Visa paying $2 million of advertising) with Visa shows promise. Visa created a small-business network for Facebook, which will help other businesses become aware of the many advantages social networking presents. As an incentive, Visa will provide the first 20,000 U.S. businesses with a $100 credit for advertising on Facebook. The collaboration seems ideal, as even search engine giant, Google has agreed to provide the business network with tools like maps, word processing, calendars and other innovative tools.

The partnership comes quickly after professional networking site, LinkedIn was valued at $1 billion . It seems as though Facebook is making its own plans for expansion, as its targeted audience begins to expand towards the business-minded.

This entry was posted on Tuesday, June 24th, 2008 at 4:28 pm and is filed under Social media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.