Facebook IPO Reveals Skyrocketing Payments Revenue

By  |  February 2, 2012
 | 

In the social media giant’s IPO filing this week, Facebook has booked a rapid increase in revenues derived from payment activity, according to a report by Finextra.

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    In 2010, payments contributed only $106 million to Facebook’s overall revenues of $1.97 billion. However in 2011 Facebook, through its relationship with Zynga, revved up payments revenue to $557 million.

    “Payments integration is currently required in apps on Facebook that are categorized as games, and we may seek to extend the use of payments to other types of apps in the future,” the company stated in its filing notes.

    Facebook further noted: “Our future revenue from payments will depend on many factors, including our success in enabling platform developers to build experiences that engage users and create user demand for their products, and the fee arrangements we are able to negotiate in the future.”

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