Moving from Social to Commercial Media
Facebook starts a new online marketplace feature that will let users buy and sell items locally. The marketplace will first roll out in US, UK, Australia and New Zealand. An app will be also be launched soon. FB is already being used for selling and buying via Facebook groups.
Facebook says it will not currently be involved in the payment process and will not charge for putting items up for sale but you can bet that monetisation ideas of this marketplace will be top of the agenda.
This marketplace will compete with the likes of Amazon, eBay and Flipkart (when FB starts the marketplace in India).