Facebook’s IPO has been described as a landmark, disappointing, even bungled. Despite what happens with the stock, it appears that they are doing a good job of developing relationships in Washington, DC.
I recently read an article in the NY Times that discusses Facebook’s Washington strategy, and how they have built their network in our nation’s capital. The article states that according to one representative from DC, Facebook efforts have resulted in 85% of House Republicans having Facebook pages…not bad considering the age of some of our representatives. It seems that Facebook has hired folks from both sides of the aisle including former political aides such as former chiefs of staff, a privacy lawyer, and even a former Clinton press secretary to train DC lawmakers.
Why? Simple…as Facebook looks toward revenue generating tactics such as targeted advertising, it will become more and more vulnerable to legislation that restricts how it uses data. As Facebook educates elected officials in Washington, it is speculated that the more lawmakers know about the company and how it works, including the benefits of using it as a communication device,  the better legislators will understand the consequences of their actions as they ponder privacy issues related to using data to target advertising
The fate of Facebook in this regard isn’t limited to the U.S., however…as more than half of its users are abroad. The European Commission has already proposed new rules that restrict how Internet companies use personal information, including allowing users to request that Web site owners delete their personal data forever if they so choose. Looks like Facebook better get busy in Europe as well!
So, whether or not you are disappointed in the recent performance of their stock, you have to agree that Facebook is doing one heck of a job doing what they do best…building relationships where they count.