The social network recently launched its Gift service after shutting it down in 2010 for lack of traction. The re-launch is seen as a way to appease investors, generate a new revenue stream and, of course, keep harvesting data.
“Gifts should also contribute more to Facebook’s treasure trove of user data, which has the benefit of a virtuous cycle, driving more personalization of the site, leading to better and more targeted ads, which improves overall monetization,” Colin Sebastian, an analyst with Robert W. Baird, told the New York Times.
SEE ALSO: This App Curates Gifts From Start-ups for Your Trendy Friends
The service allows users to easily buy gifts for their friends directly on Facebook. On a friend's birthday or special occasion, a gift tab will appear on your timeline, allowing you to access a varied list of items to buy your friend.
To learn more about this new Facebook feature, watch the video above.
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