Facebook launches ‘Marketplace’ for users to buy/sell items online within local communities

Facebook launches ‘Marketplace’ for users to buy/sell items online within local communities

Facebook launches ‘Marketplace’ for users to buy/sell items online within local communities

In an announcement made via a blog post published on Monday, social network Facebook said that it is launching a new online version of a yard sale called 'Marketplace.'

Marketplace will essentially be a centralized hub where the nearly 1.71 billion monthly users of Facebook social networking site will be able to purchase as well as sell items online within local communities. As such, Marketplace will evidently challenge sites like eBay and Craigslist.

In announcing the launch of Marketplace, Facebook said that, over the next few days, Marketplace will be rolled out to users aged 18 years and older in the US, the UK, Australia, and New Zealand.

Users of the Facebook app for iOS and Android will be able to access Marketplace by tapping on the shopping icon on the bottom of the app.

In reference to the launch of Facebook Marketplace, Mary Ku -- director of product management at Facebook -- drew attention to the fact that "More than 450 million people visit buy and sell in [Facebook Groups] each month - from families in a local neighborhood to collectors around the world;" and added that Marketplace will basically be "a convenient destination to discover, buy and sell items with people in your community."