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Facebook Signs Its Biggest Customer—Royal Bank of Scotland

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Facebook at Work

Facebook (FB) recently announced a partnership with Royal Bank of Scotland, or RBS. Under the partnership, around 100,000 workers from the bank will work on Facebook at Work, the office version of the Internet giant’s site. With this deal, Royal Bank of Scotland becomes Facebook’s biggest customer.

The bank plans to have its entire workforce use Facebook at Work by the end of 2016. Facebook at Work is a platform designed by Facebook specifically for businesses. RBS workers will be able to post photos, create groups, and send private messages to their peers with this platform, which is available on Android and iOS mobile devices.

The rationale behind networking platforms at work

Facebook entered the workplace with this platform because its site is banned in many offices due to the large amount of time people spend on social networking sites during work hours. To ramp up its user activity and grow its user base, Facebook introduced Facebook at Work.

Other leading technology firms offer services similar to Facebook at Work, including Microsoft’s (MSFT) Yammer, Salesforce.com’s (CRM) Chatter, SAP’s (SAP) Jam, and IBM’s Connections.

According to a report from comScore Mobile Metrix and as the above graph shows, social networking is a popular activity on smartphones. Several brands show exceptionally high engagement. Facebook leads the pack among social networking brands, with the average Facebook mobile user engaging for more than seven hours per month via browsers or apps.

To gain portfolio exposure to Facebook, you can consider the PowerShares QQQ Trust Series 1 ETF (QQQ), which invests 3.6% of its holdings in FB.

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