Facebook May be Working on "Want" Button
According to CNN Money, there have been reports of a "want" button code disabled and hidden from Facebook's 900 million current users. Speculation started when Tom Waddington stumbled upon it, and published a mock-up of it on his blog. Since then, analysts have been offering their own conclusions as to what such a button can do for Facebook's online commerce ambitions. Some of them say that the "want" button could possibly become a wishlist of sorts, and would make sense for Facebook to show advertisers what users intend to purchase.
In a report released Tuesday, Piper Jaffray analyst Gene Munster notes that a "want" button "could be Facebook's first true product to directly impact commerce on the site." "Offering a 'want' button and enabling users to tell friends and Facebook what products they want would give Facebook data closer to what Google (GOOG, Fortune 500) has when users type an explicit commerce related search query," Munster wrote.
Of course, Facebook has nothing to announce (yet) when probed about the possibility of such a simple but powerful function. But its investors are likely anxious to see if Facebook will be able to diversify and monetize its large user base. Analysts also say that if Facebook was to make any announcements, it'll probably be during this year's F8 conference (held last year in September). And even then, Facebook announcing a "want" button might not even happen.
Source: CNN Money