Facebook traffic turbo boost

Here’s the opening paragraphs of a recent article about Facebook in The Age:

To some, Facebook is a frivolous social forum, but Californian Lee Lorenzen regards it as “the lowest-cost customer acquisition vehicle on the planet”.

A partner with Altura Ventures, Mr Lorenzen appeared via video at last month’s Facebook Developers Garage meeting in Sydney. He told the gathering of Web 2.0 entrepreneurs that it took him nine years and “a lot of money” as CEO at Shop.com to get 500,000 registered users.

But then Facebook application iLike, from developer Rockyou, added 600,000 users in eight hours.

“Nine years versus eight hours - we knew there was something going on that was special inside the Facebook environment,” Mr Lorenzen says.

Wow, just 8 hours versus 9 years — that’s really showing the potential power of Facebook from a business sense — it’s time to take notice of Facebook when it is described as “the lowest-cost customer acquisition vehicle on the planet.”

6 February 2008 | Filed Under Web