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Facebook Cashing in on Your Data

added by Michael on 1 Feb 2009

Struggling to make ends meet with advertising alone,

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.

In an attempt to finally cash in on the social networking site, once valued at $US15 billion ($23.6 billion), it will soon allow multinational companies to selectively target its members in order to research the appeal of new products. Companies will be able to pose questions to specially selected members based on such intimate details as whether they are single or married and even whether they are gay or straight.

The company, which has struggled to make money from advertising, has been demonstrating the benefits of its new instant polling tool to business leaders at the World Economic Forum in Davos.