Facebook has launched its eagerly anticipated ‘geo-location’ product – Places. Facebook chief Mark Zuckerberg said the service will “allow users to share where they are with their friends; allow them to see who is near them; and allow them to discover new places around them”. Places is for ‘advanced mobile browers’ only (i.e. smart phones) and can be accessed via Facebook’s iPhone app.
Many have said that Places will be a ‘Foursquare killer’, and initially it will only be available in the US. Where Foursquare has a social gaming aspect to it with prizes like ‘mayorships’ of venues, Facebook says Places will offer more to users like coupons and other types of rewards. For advertisers the appeal is very obvious. Places will allow them to give potential customers offers and deals in specific venues and benefit from immediate sales while also building up profiles of people and their consumption patterns.

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