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In the fast-moving world of Internet innovation, the search for the winning combination of strategies often means companies are continually rolling out features to match their competitors.Take local deals, territory that Chicago-based Groupon claimed with its launch more than two years ago. Google, Facebook, Yelp, OpenTable and a host of other Web-based companies have introduced their versions of discount offers since then. And many of these players have started allowing users to "check in" to local businesses on their mobile phones, a concept popularized by Foursquare and other location-based services.This ongoing flurry of activity is underpinned by a common desire to conquer three important categories of growth for consumer-oriented Internet companies: mobile, social and local commerce. The race to find the right mix is crucial for capturing revenues and the loyalty of consumers whose sources for information and entertainment are becoming increasingly fragmented.

"A mobile and social Web, both on the advertising side and e-commerce side, is going to be more highly monetizable," said Mendez, whose private-equity firm focuses on privately held companies such as Facebook. "It's more likely to turn eyeballs and visitors into transactions and dollars spent."Companies are building on the three pillars of mobile, social and local commerce in different ways, focusing on core strengths before adding other capabilities.

Groupon, for example, built its business model on the idea of social plus local commerce, creating a group-buying platform as a new form of local online advertising. Last week, it launched a mobile application called Groupon Now that delivers deals to consumers based on their location.

While growth in usage of social media by the public continues to grow unabated, new research shows that social media usage among large companies is leveling off. The research from the University of Massachusetts at Dartmouth shows that corporate use of networks like Facebook and Twitter plateaued in 2011. The study looked at outward facing social media usage by Fortune 500 companies, and found that adoption of blogs, Twitter and Facebook did not rise from 2010 to 2011. Just under 1/4 of the Fortune 500 have a public facing blog. While this is an increase from the 16% measured in 2008, it has not increased at all since last year. Likewise, Twitter usage has only increased by 2% in the last year, from 60% last year to 62% this year. Only 58% of large companies have a Facebook page; however, another 2% rise from last years figure. Astonishingly, 31% have no presence on either Facebook or Twitter at all. This follows research last week revealing that 1 in 5 small business owners hate social media.  Bete noir of the industry was Groupon, with a whopping 70% of SMEs reporting their dislike of the coupon website.

Exclusive: In a push to boost its payments platform for the gaming industry, American Express, has acquired virtual currency platform and in-game payments provider Sometrics. The total deal value is $30 million, but both parties declined to reveal further details about the split between cash and stock. Sometrics will become part of the Enterprise Growth Group, and will be used within American Express’ Serve digital payments platform to incorporate virtual currencies and loyalty programs.

Sometrics helps gaming publishers market free-to-play online games and monetize virtual currency with a consumer destination site and in-game payment solutions. Sometrics’ in-game payments platform basically powers virtual currency transactions and payments for game publishers. Sometrics also serves users with targeted offers based on their location, demographic, conversion history and social affiliation.

The company currently supports dozens of payment options (including mobile carrier infrastructure and credit card support) and hundreds of brand engagement ads, reaching a total global audience of more than 225 million consumers in more than 200 countries. And through Sometrics’ analytics capabilities, developers are able to view and analyze which audience demographics are responding to which payment options, respond by pushing traffic to the options that convert best, and optimize those conversions to help maximize revenue. Current gaming partners that use Sometrics include Nexon, NHN USA, IMVU, PopCap, BigPoint, Habbo, and many others.

The trend in online games, already popular in the entertainment industry, is set to extend to the travel industry according to research released this week. 

The WTM Global Trends Report 2011 reveals the ‘gamification of travel’ is already taking hold with companies and tourism organisations including Lufthansa and Tourism Ireland using gaming techniques to create brand awareness and build loyalty.

Last year Tourism Ireland unveiled its Ireland Town game on Facebook giving it the potential to engage with more than 62 million people.

Mark Zuckerberg and his college roommates were computer science students without any real plan. They started Facebook because it was fun, used their talents, and was a novel way for Harvard students and alumni to stay in touch. Zuckerberg never anticipated it would host over 400 million members. And he had no clear idea where the money would come from. But he kept at it until, in 2007, Facebook let outside developers create applications for it, and game developers started buying ads on Facebook to keep attracting players. Hardly Zuckerberg’s strategy in 2004.And when Larry Page and Sergey Brin, founders of Google, started writing code in 1996 they had no clear plan or idea how they would make money either. But that didn’t stop them from starting. It wasn’t until 2002 and 2003 that AdWords and AdSense became the company’s money-making platform. Last week, in Don’t Get Distracted by Your Plan, I wrote about the importance of staying flexible, about the dangers of sticking too closely to your plan. But what if you have no plan? Read more at blogs.hbr.org

Social networking is a daily activity for most of us. Anyone paying attention knows that sites like Facebook and Twitter have hundreds of millions of users and are extremely popular. But one thing I think we all forget from time to time is that these social networking sites are businesses. They do have employees and they do have costs. So I ask again, how do social networks make money?The short answer is that they don’t, not on their own at least – at first. There are a few different ways social networking sites earn money, with more on the horizon. This article aims at uncovering a few of these methods and answering the questions that many of us are asking.Read more at www.makeuseof.com 

A deep integration of Twitter and iOS 5 was among the many things announced by Apple today but it's not just that you'll be able to post to Twitter from inside official Apple apps like photos and maps. Any 3rd party iOS developer will be able to leverage a number of Twitter Application Programming Interfaces (APIs) to make their apps better and more social. After email, SMS and iOS messaging, Twitter will now become a key social layer over the top of many of the apps on iOS devices.

"There is single sign-on, which allows you to retrieve a user's identity, avatar, and other profile data." That sounds like Facebook Connect, but I'm going to guess that Twitter will not prohibit developers from caching that data for time-shifted, aggregate, offline or other interesting types of analysis. Letting users skip having to create an account with every new app they download and instead click to log-in with their Twitter accounts is going to make many users very happy and encourage every iOS owner to get a Twitter account if they don't have one already. App developers will get more and better populated user accounts, faster.

"There's also a frictionless core signing service, allowing you to make and sign any call to the Twitter API." To be honest, I'm not really sure what this means. Perhaps it means that parts of the Twitter API that require user authentication will be accessible via the same single sign-on feature discussed above.

Having been relegated to our screens, are our friendships now anything more than a form of distraction?

Facebook isn’t the whole of contemporary friendship, but it sure looks a lot like its future. Yet Facebook—and MySpace, and Twitter, and whatever we’re stampeding for next—are just the latest stages of a long attenuation. They’ve accelerated the fragmentation of consciousness, but they didn’t initiate it.

We’re busy people; we want our friendships fun and friction-free.

Local data Alec Muffett is working on a scheme called the Mine Project. This aims to give consumers a local place to store their credentials and sensitive data, so they can choose which services they want to expose the data to.

"I believe the structure of the internet encourages individuals to host their own data. In some ways, it's a little unfortunate that everyone thinks it's easier to have a big company do it on their behalf, but it's entirely understandable," he says.

"It's a karmic cycle," he says. But sooner or later it is going to swing the other way, and people should prepare for an age when their data is once again their own, he argues.

I would like to talk about an inflection point in social media that requires pause. I am not suggesting that there will be a social media 2.0 or 3.0 for that matter. Nor do I see the term social media departing our vocabulary any time soon. After all, it was recently added to the Merriam-Webster dictionary.  Instead, what I would like to discuss is the end of an era of social media that will force the industry to mature. It won’t happen on its own however. Evolution will occur because consumers demand it and also because you’re willing to stake your job on it.

The future of social media comes down to one word, “value.” Without it, businesses will find it much more difficult to earn and retain friends, fans and followers (3F’s). As adoption of social networks soared in previous years, growth is now plateauing.  eMarketer estimates that Facebook growth will hit only 13.4% this year after experiencing 38.6% acceleration in 2010 and a staggering 90.3% ascension the year before. Facebook isn’t alone in its sobriety either. The  rate of Twitter user adoption fell from 293.1% growth in 2009 to 26.3% this year.

Between June 2009 and June 2011, the following changes were noted in Facebook activity: - Uploading videos is experiencing a modest increase around the world up 5% in the U.S. and 7.6% worldwide. - Installing apps is on the decline, down 10.4% in the U.S. and 3.1% worldwide. - Sending virtual gifts may not be gifts worth giving after all, with numbers declining 12.9% in the U.S. and 7.5% around the world. Twitter on the other hand is a rich exchange for  information commerce, where links become a form of digital currency. For example, 45% share an opinion about a product or brand more than once per day. Another 34% of Twitter users also share a link about a product or brand more than once per day.

In a matter of hours, Facebook is going to host f8, its annual developer conference.

My sources are telling me that the company is going to make some sort of announcement around NFC technologies at the event as well.

The Places product will have some NFC elements built into them, and the social network is working closely with some hardware vendors.

Commonwealth Bank of Australia has unveiled Kaching, a mobile phone application and case capable of conducting NFC-based, e-mail P2P, and Facebook payments from a single handheld device.

Depending on the format selected for payment, the transaction will either take place instantly, or generate a unique code for delivery to the recipient, allowing them to access their payment online at a convenient time.

David Lindberg, executive general manager cards, payments and retail strategy says: "The recent explosion in uptake of digital and smartphone technology has revolutionised how we all transact, interact and communicate with each other, and this new application will make the dream of mobile payments a reality."

In late 2008, news broke that Facebook cofounder Dustin Moskovitz was leaving the company to launch a new startup of his own, joined by early Facebook engineer Justin Rosenstein. It was a move that led to plenty of raised eyebrows — Facebook’s growth was (and still is) explosive, and there were clearly lots of exciting things going on at the company.

The duo later revealed that they were working on a productivity app called Asana, raising a total of $10.2 million to fund the company. And yesterday, after two years in production and lengthy beta testing, the site held its public launch (you can find our full rundown on the launch right here).