Facebook, and other social networks, may be in trouble - a story from over the winter break.No one should be really surprised about this - Facebook was grossly overvalued and the whole data-whoring - sorry, mining - thing has always proved problematic to actually capitalise on.
What does this mean for regional social networking endeavours, such as Jeeran, Dubai Lime, or AdNation itself?
Well, hopefully we might all be in better shape, having not squandered countless millions on development, or indeed strawberries and muffins. You would also hope that internet operations in the Middle East are more aware of how limited development has been in internet advertising here, and so have set their sights lower.
H2O - the developer behind Dubai Lime, and the technical stuff of AdNation, has just launched its own attempt to unlock some of the monetary potential from social networks. I'll be trying to speak to H2O headman Steve Vaile about this, and what potential he sees in the market - stay tuned for that.
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