Erskine Bowles Joins Facebook Board

Facebook Inc. said Wednesday that the former co-chair of President Obama’s fiscal responsibility commission, Erskine Bowles, has joined the social networking company’s board.

“Erskine has held important roles in government, academia and business, which have given him insight into …

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Facebook revenue ‘doubles to $1.6bn’

Facebook has historically struggled to monetise its success, given its size
and influence, but the leaked figures suggest a robust performance. However,
usage appears to be reaching stauration point in some markets. According to
Experian Hitwise, the number of visits to the site in the UK fell by 4pc in
July to its lowest level since 2009, sparking concerns that Facebook has hit
its peak and is declining in popularity.

The company is understood to be working on a number of new functions to make
the site more “sticky”, including a music-streaming service which
would see it partner with existing market leaders Spotify, Mog and Rhapsody.
It has also introduced new features for advertisers, designed to emulate “word
of mouth marketing”.

Last month Facebook scrapped its Groupon-style daily deals service in the US,
after just four months.

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