Sometime today, Facebook will sign up its 200 millionth member.
The growth of the company is impressive. Membership was only 50 million in 2007.
But now the social network of choice needs to broaden its act. Not that money is everything. But Facebook must figure out how to bring even more value to users – and subsequently dollars into its pocket.
Google became a hugely powerful force in just a few years not just by developing a better way to search but by figuring out to more effective sell and place advertising.
Now for the next step: making money
Facebook needs to figure out how it can tie commerce to its users’ activities in a way that is not intrusive – perhaps by hosting a database of user recommended companies and products.
It is now clear social networking is a mass-market phenomenon and a force for good. Just listen to the evidence Founder Mark Zuckerberg laid out in his blog post this morning:
“Both U.S. President Barack Obama and French President Nicholas Sarkozy have used Facebook as a way to organize their supporters. From the protests against the Colombian FARC, a 40-year old terrorist organization, to fighting oppressive, fringe groups in India, people use Facebook as a platform to build connections and organize action.”
Now it must take the next step. It must make itself even more valuable – and the Internet economy that much stronger.
