Jul
9
Facebook to close its Gift Shop
Probably to make way for the introduction of Facebook credits to be used by third party developers. Facebook made $40m~ year from virtual gifts, but I guess they think that pales in comparison to the likely income from social games and 3rd party gift stores.
Such 3rd party apps will likely be benefited (more users, keener investors) by one of their biggest competitors leaving the market, and more profit for them is more profit for Facebook in the long run.