I’ve heard a lot of complaints about the Facebook business costco account.
After all, they’ve become the biggest provider of online business-to-consumer financing.
But the company’s revenue per employee is $2,400 less than that of other major online credit card issuers, according to data compiled by NerdWallet.
The company also reported a $2.9 million loss in 2015.
Now, with Facebook’s $5 billion acquisition of Instagram and its $20 billion acquisition by Facebook, there’s even less incentive for the company to offer a service that people like paying for.
The CEO of Facebook, Sheryl Sandberg, recently told The Washington Post that she’s “always been excited about investing in a new service that we’re building.”
But she told reporters that she has “no plans” to raise more money for Facebook Business as its costs keep growing.
And, as for paying more for business-related services, NerdWallet estimates that the company has spent $14.9 billion on marketing and sales in 2016.
BusinessCostco, which launched in 2017, isn’t the only business-savings-oriented credit card company to get hit by Facebook’s aggressive pricing.
The Wall Street Journal reported last week that a credit card processor in California said it had received a similar number of complaints from customers about Facebook’s business costcos.