The Facebook Marketplace (NASDAQ:FB) is a new platform 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 Marketplace 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 Marketplace 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 Marketplace. 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.
