Facebook Begins Charging to Delete Photos
Faced
with continued investor skepticism over its long-term business model, Facebook has
quietly started testing a new way of generating additional revenue -
charging money to delete old photos.
The
new settings, which are currently in beta, ask users to pay $5.00 to delete any
photo more than 1 year old from their own Facebook profiles, and up to $20.00
to delete photos of themselves on other people's profiles.
Analysts
say that Facebook could generate huge revenues from the new photo settings
because many users are desperate to hide embarrassing pictures of
themselves from family and potential employers.
Topher
Anderson, a technology equities analyst at Citigroup
says the new charges could single-handedly help Facebook's sagging stock price
recover to its IPO level of $40 a share.
"This
new photo fee is a stroke of genius," claims Anderson, "We estimate
that over 50 million users will use the feature, spending on average $35 a year
to delete the most embarrassing pics. The annual boost to Facebook's
top line will be well over $1 billion."
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