Facebook is uniquely positioned in that it already has a massive base of active users, so it doesn’t really have to worry about being first to market with a new product. Facebook Messenger is a perfect example. The mobile messenger craze has already been around for years, but Facebook swooped in and zoomed right past the competition because it was able to place its new app in front of hundreds of millions of Facebook users.
So what’s next for the social networking giant? Watch out, Craigslist and eBay, because Facebook just launched a new product called Facebook Marketplace that lets users buy and sell anything they want quickly and easily.
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Okay, maybe you can’t really buy and sell anything you want using Facebook Martketplace, but as long as you stay within the confines of the law you should be good to go.
As the name suggests, Facebook Marketplace is a, well, marketplace that lets users list items they own and are looking to sell. Facebook says that 450 million people already visit various buy and sell Groups on Facebook each month, and now they’ll have a tool that makes buying and selling items far easier than ever before.
“To help people make more of these connections, today we’re introducing Marketplace, a convenient destination to discover, buy and sell items with people in your community,” Facebook said in a blog post on Monday morning. “Marketplace makes it easy to find new things you’ll love, and find a new home for the things you’re ready part with. We’ll continue to build new options and features to make this the best experience for people. “
A new shop icon at the top of the Facebook app will take users to the Marketplace, where they’ll be able to browse items listed for sale or sell their own items. How difficult is it to list an item for sale? Here are the instructions from Facebook:
- Take a photo of your item, or add it from your camera roll
- Enter a product name, description and price
- Confirm your location and select a category
- Post
It’s no wonder eBay shares are down 3% in this morning’s pre-market session.
Facebook Marketplace is rolling out beginning today in the US, UK, Australia and New Zealand. It will be accessible in Facebook’s iPhone and Android apps, and Facebook will launch the new Marketplace in addition countries soon.
