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Facebook Marketplace: Classified ads on facebook

Written on August 17, 2009 | Posted in Social Media |

Today, when most people think of online classifieds, they think of craigslist, backpage, kijiji, gumtree or perhaps the local newspaper’s Web site. Social networking sites like Facebook, MySpace and Friendster are based on facilitating connections between members.Allowing users to buying or selling products like classifieds added a new taste in online social activities.

There is no doubt about the crowdyness of the social medias. So, buying, selling, hiring, renting could take place more effectively here. MySpace has had a formal classifieds section on its site since its 2004 inception.

Facebook Marketplace Logo

Facebook Marketplace, the Facebook classifieds application is an new sensation in classified ads services.Facebook, the social media jiant first introduced the Marketplace application on Facebook Platform in May 2007 as a way for people to post classified listings on the site. But it didn’t catch on.
Late last year, Facebook turned to Oodle for its expertise in online classifieds, and Oodle has built an entirely new version of Marketplace focused on giving people a place to buy, sell or give things away to the people they know.

If you previously had the Marketplace application installed, you’ll continue to see it bookmarked on the Applications tab in the lower left hand corner of your screen. And if you have an active listing in Marketplace, you’ll be given the option to transfer it to the new Facebook Marketplace powered by Oodle.

Facebook Marketplace Bookmark

You’ll be able to access the Facebook Marketplace powered by Oodle from the Application Directory, as well.

The software application allows you to easily sell something, give it away, ask for something or sell an item with the proceeds going to a nonprofit.
Your listings in Marketplace can be anything-books and DVDs you don’t need anymore, the dream job you are looking to land, or the special requirements it takes just to be your roommate.

Facebook Marketplace Home

Craig Donato, Oodle’s CEO, says in addition to the basic information about a transaction, classified users are asked why they are buying or selling.
Marketplace will have four general categories: “For Sale,” “Housing,” “Jobs,” and “Other.” Those sections will be split into sub-categories for more detailed offerings. Members can access the Marketplace homepage via a link on the left-hand navigation bar of their online profile, according to Facebook.

Special Features of Facebook Marketplace:

Listings come with the seller’s profile and visitors can write on the “wall” and ask questions or add comments such as, “I have a bike like this, and it’s great” or “Does anyone know how much this weighs?” And if someone is interested in donating to charity, they can find out what items are being “sold for a cause,” that is, items from sellers who have agreed to donate their profits to participating charities.

“Shout” the new feature aims to make the Facebook classifieds more social.What a shout does is actually encourage users to share personal information about listings with their social graph on Facebook. Think of it as a comment that’s associated with the “share” capability for a given classifieds item within Facebook.
For example, if you come across a classifieds listing for a digital camera, your “shout” could be something like “has anyone tried this brand?” Or your “shout” could be something as simple as “say cheese!”

Facebook Marketplace Shout Feature

“There was a recognition by us that in social networks, classifieds can act like a conversation,” said Oodle chief executive Craig Donato.

Craigslist alone brings in tens of millions of dollars, and analysts say it could bring in much more. Facebook views that market as a potentially new and sizeable revenue stream. It’s especially attractive because Facebook, though wildly popular, doesn’t turn a profit.
Analysts say in this economy, more and more people are using classified ads. The big question for Facebook is how well can it capitalize on that trend.

Would Facebook Marketplace be a challenge for the classified jiant craigslist?

“We don’t look at other companies as a threat or competition given that we see ourselves as providing a public service to the community,” said Susan Best, a Craigslist spokeswoman. “Providing free classifieds to the general public is a service the public seems to appreciate and finds valuable.”