Tuesday, April 26, 2011 , Updated 9:58 a.m., August 29, 2011
UPDATED: Facebook cancels Deals feature
Facebook joined the couponing party rather late.
DALLAS UPDATE: Facebook has canceled its Deals feature. "After testing Deals for four months, we've decided to end our Deals product in the coming weeks," the company said in a statement. Reuters explains that Groupon and LivingSocial are poised to reap the benefits.
After several months of hints about Facebook Deals, the social media giant announced Tuesday that their couponing feature has been launched in five cities, Dallas included. The other cities represented are Atlanta, Austin, San Diego, and San Francisco.
Facebook Deals, like many other deal sites, allows web browsers to pay for deals online and then print a voucher to use at the place of business. When browsers “like” a deal, it will appear on their Facebook news feed for their friends to see.
According to several sources, Deals was implemented largely to rival Groupon, the deal-a-day site that refused a sale price of $6 billion to Google in late 2010. Groupon is estimated to be valued somewhere between $15 billion and $25 billion now, according to Reuters and Bloomberg.
Facebook Deals is one of many consumer discount sites, with Groupon and LivingSocial considered to be the biggest. Seize the Deal, of which Pegasus News is the DFW affiliate, is another deal-a-day coupon site that has launched in nearly 40 cities in the U.S.
A novel idea with Facebook Deals is “credits,” which are virtual currency. According to a New York Times story, “Facebook has made no secret of its plans to turn Credits into a major force in online payments.”
Deals are available in the Facebook navigation column for users who reside in the five pilot cities. Dallas users, do you like the Deals so far?