So you're used to eBay to look for that gift you can't find on the high street. Maybe you've also used Gumtree for more localised purchasers. With eBay buying up Gumtree, many were wondering what would now become of the localised-marketplace and if eBay would have any competition in this space.
Suddenly stepping into this area is Facebook, with the launch of their free Marketplace on their mobile app. This allows users to post their free-ads online and to have them automatically shown to people in their local geographic area. Potential buyers then message the seller to agree a price and arrange to pay for the product - off-platform, in cash or via any other payment gateway they choose. So Facebook, for now, have decided not to be the payment gateway (like PayPal) so they don't take a cut of the item price. But that is likely to change as it is now possible to transfer funds via Facebook Messenger.
Already the Marketplace has had huge traction, with For Sale items ranging from used clothing, through to cars, caravans, rooms to rent and, yes, homes.
What's left to stop Facebook from owning the world?
Image Source: Forbes