E-Commerce 2.0: Friendgiftr is The First Social Media-based Store

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The web is getting social and Friendgiftr knows exactly how to dance with the social tempo.

We first introduced Friendgiftr as a Facebook application that allows users to buy gift cards for their social network on Facebook. Now, it has extended its service over to MySpace, iGoogle, Ning and Bebo and is the first and only social media-based online store to offer actual purchasable retail and restaurant gift cards to hundreds of millions of social media site users.

With over 120 leading brand names like Gap, Dominos Pizza, Pottery Barn, Starbuck’s, Banana Republic and many more, social media users are definitely spoilt for choice.

“Introducing our network of gift card storefronts across numerous social networking sites is a game-changing step forward in the commercialization of social media,” commented Rob Carpenter, Friendgiftr CEO.

“It’s also a cornerstone of our unique business model. We partner with the companies whose gift cards we sell, which keeps our operating costs minimal, and unlike most web-based start-ups we have multiple viable revenue streams, including commissions from cards we sell through a growing number of storefronts, slotting fees, advertisements and affiliate marketing programs.”

More of social media related businesses

Selling social media marketing services, games and virtual goods are some businesses we’re familiar with. Friendgiftr might have opened up a new business branch relating to social media. From what I have seen, this service does add value to the entire social media horizon.

Give it a try and let us know your thoughts.