Facebook And Wal-Mart To Meet, Possibly Plan For World Domination
Facebook Founder and CEO Mark Zuckerberg and Wal-Mart CEO Mike Duke will meet at Wal-Mart Stores Inc’s Bentonville, Arkansas headquarter this week for two days of discussions.
While both company’s have refused to say what they will talk about it is largely believed that the two-day summit will be used to discuss how the social media firm and world’s largest retailers can work together in order to strengthen both brands.
The meeting could not come at a better time for Facebook as the company continues to face questions about its ability to earn money over the long-term, questions that have led to the stock trading well below its initial public offering price.
Some analysts believe Facebook will attempt to enter the online retail sales market, essentially taking a cut of transactions made through its social network. Analysts paying close attention to social media network Pinterest are keenly aware of the power social networking sales can have although whether Facebook users will buy products through the networks links is yet to be seen.
In a statement regarding the meeting Facebook said it looked forward to “deepening” its relationship with Wal-Mart while learning from the retailer’s ”experience and management team about building a strong, durable and valuable company for the long-term.”
Wal-Mart in the meantime is no stranger to Facebook with 17 million fans and millions of dollars spent on Facebook advertising.
In a statement regarding the social network Wal-Mart revealed:
“We appreciate and value the ongoing strategic partnership we have with Facebook. Their help and support with testing new and innovative products and technologies to reach our customers has been invaluable.”
While Facebook executives have met with Wal-Mart officials in the past this is the first time Mark Zuckerberg and his entire management team have made the trip to meet with Wal-Mart’s own executives.