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| The social networking site Facebook login webpage. File Photo |
What happens when you cross the world's largest social network with one of the hottest business models in e-commerce? Facebook wants to find out.
Facebook is launching a deals programme on Tuesday in five US cities, following on the popularity of Groupon and other services that offer deep discounts - for example, $50 worth of food at a local eatery for $25.
By allowing small businesses to leverage the Internet while helping consumers score great deals, these group-couponing services have become some of the fastest-growing businesses in the world.
Many deals sites have a social component. For instance, if you get three friends to buy a LivingSocial voucher, yours is free. Groupon's offers become valid only after a certain number of people purchase them.Facebook now wants a part of that. It hopes to exploit its existing networks of friends and family when it begins testing offers in San Diego, San Francisco, Atlanta, Dallas and Austin, Texas.
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