Facebook ÃÛÌÒ´«Ã½place: 7 Things to Know About the Craigslist Competitor

Facebook ÃÛÌÒ´«Ã½placeThe Facebook ÃÛÌÒ´«Ã½place (NASDAQ:FB) that serves the same purpose as Craigslist.

The company announced that it is launching a new way to connect its users with the platform. Here are seven things to know about it:

  • Much like Craigslist, Facebook ÃÛÌÒ´«Ã½place is a location where you can buy and sell products with consumers who are located close to where you live.
  • About 450 million people on the social media site already use it to buy and sell items through its group feature. Now, they have a formal way of doing so.
  • You don’t need to know exactly what you’re looking for as Facebook ÃÛÌÒ´«Ã½place will suggest items based on your likes and consumer activity in other websites.
  • Selling an item is simple–you set an offer, you upload a photo, list the item, describe and set the place you are located in.
  • It is only available for mobile now but a desktop version is slated to come out soon.
  • You can browse categories of items, get nearby listings, search for an item, expand the radius of your search to cover a larger distance, and other ways of expanding or narrowing your search.
  • Naturally, there are safety and privacy concerns with Facebook ÃÛÌÒ´«Ã½place. The company stresses that it should not be used for selling or buying drugs and other illegal items, as well as firearms, alcohol and animals.

FB shares are down 0.1% Monday.

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