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Could the powerhouse social networking giant have finally struck a bum note – The Sunday Independent reports that Elevation Partners, the private equity firm backed by Bono, has acquired a one per cent stake in Facebook.

Just last month Bono was named “Worst Investor in America” by financial journal 24/7 Wall Street.

But with Facebook’s AOL-owned rivals Bebo announcing last week that the site would inevitably be closed or sold in the next year, perhaps Bono’s financial ear is back in tune.

Meanwhile, The Sunday Business Post highlighted the success of the Irish Blood Transfusion Service in grasping social media to increase its reach and attract new blood donors.

The IBTS Facebook page – – has gained 10,000 fans in a year.

IBTS marketing executive Clare MacDermott said the organisation wanted its Facebook presence to be more than a token effort.

“Several people administer the page, guaranteeing that all comments will be replied to accurately and in a timely fashion.”

MacDermott added that the network allows IBTS to “interact with its target audience in a positive and proactive way and use it as a platform to answer queries and dispel myths about giving blood.”


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