Amrit01
03-03-2012, 09:57 PM
Facebook has decided to shut down Facebook Deals, its four-month-old Groupon competitor.
After testing Deals for four months, weve decided to end our Deals product in the coming weeks, Facebook told Reuters in a statement.
The product, which launched in late April, was an attempt to bring the popular daily deals phenomenon to Facebooks 750+ million users. It launched in San Francisco, Austin, Dallas, Atlanta and San Diego, but quickly rolled out to other cities.
The market for daily deals has become more competitive in recent months, however, and many are questioning the entire business model in light of Groupons questionable financials.
We think there is a lot of power in a social approach to driving people into local businesses, Facebook said in its statement. Weve learned a lot from our test and well continue to evaluate how to best serve local businesses. We have reached out to Facebook for more information.Print StoryEmail StoryReprintsTopics to followFacebook76,263 followersFollowGroupon1,639 followerFollowDaily deals159 followersFollowFacebook Deals74 followersFollowFor more Business coverageFollow Mashable BusinessBecome a fan on FacebookSubscribe to the Business channelDownload our free apps for Android, Mac, iPhone and iPad
After testing Deals for four months, weve decided to end our Deals product in the coming weeks, Facebook told Reuters in a statement.
The product, which launched in late April, was an attempt to bring the popular daily deals phenomenon to Facebooks 750+ million users. It launched in San Francisco, Austin, Dallas, Atlanta and San Diego, but quickly rolled out to other cities.
The market for daily deals has become more competitive in recent months, however, and many are questioning the entire business model in light of Groupons questionable financials.
We think there is a lot of power in a social approach to driving people into local businesses, Facebook said in its statement. Weve learned a lot from our test and well continue to evaluate how to best serve local businesses. We have reached out to Facebook for more information.Print StoryEmail StoryReprintsTopics to followFacebook76,263 followersFollowGroupon1,639 followerFollowDaily deals159 followersFollowFacebook Deals74 followersFollowFor more Business coverageFollow Mashable BusinessBecome a fan on FacebookSubscribe to the Business channelDownload our free apps for Android, Mac, iPhone and iPad