Friday, November 2, 2012

Facebook Inc (NASDAQ:FB) Planning To Compete With Craigslist?

The Daily is reporting that Facebook Inc(NASDAQ:FB) is experimenting with a new feature, a new classified ad service that could directly challenge Craigslist.

The Daily quotes two sources within Facebook, who independently told the site that the classified ads project is going fast track. It is tentatively being referred to as Marketplace. The name has been taken from a long dead Facebook project. It is intended to allow users to post ads that would appear in the news feeds of other users.

The scheme supposedly would borrow concepts in some ways from the Promoted Posts of Facebook, in the ways that users many have to shell out a small fee. The Daily said the amount may be as little as $5 to post most adverts. The ads are supposed to pop up in the feeds of friends.

The joy of Craigslist is that is can be used for a plethora of purposes, like hiring a casual worker, selling a car or renting out a room. The Daily suggest that Facebook’s new Marketplace would not be any different, although it also thinks that there might be some dissimilarity in terms of resulting posts and charges, depending on the ads.

The Daily says that the posts for housing for individuals would be free of cost and let users to tag their friends as a suggestion. The jobs board could become the most active part of the Marketplace app among the young professionals as it will allow them to share career aspects with their friends. Much like housing, the posts can be restricted geographically, and also in terms of other criteria.

There seems to be discussion taking place within Facebook regarding a Projects section, much like the Gigs in Craigslist, which would let people to share information, probable future ventures and general ideas.
There has been no news regarding the time Facebook decides to roll out this new feature.

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