Facebook enters the world of local business

By siliconindia   |   Wednesday, 27 April 2011, 13:16 Hrs
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Bangalore: Every social networking site has bumped into the territory of local advertising business. Google introduced "Google offers" to give a tough competition to famous Groupon, SAP.com; Rediff came out with Deal Ho jaye! Now facebook has joined the trend and is launching a deal program in five U.S. cities. They are San Francisco, Austin, Atlanta, Dallas and San Diego. Facebook is now offering coupons for everything from wine tastings to concert tickets for its users. This has come as a big blow to Groupon Company. The market established by Groupon will be capitalized by these upcoming initiatives from Facebook and Google. And the increasing number of deals with the alluring discount price offered by Facebook is sure to hit the Groupon group hard. With the advent of internet boom e commerce has reached a different level. It is helping consumers score great deals. These group-couponing services have become some of the fastest-growing businesses in the world. With mobile technology and social networking, new business, local merchants can acquire new customers by offering online. With 500 million users and being the World's No.1 social networking site, Facebook earns a lot of its revenue through online ads. This new initiative is icing on the cake. With local business being the trend, it will be interesting to see if other sites like Yahoo and twitter will also join the league.