With Its Newest Feature, Facebook Takes on Craigslist

Today, Facebook announced a new platform-wide, local buy/sell marketplace—simply titled Marketplace. The functionality will be familiar to many users of Facebook, who may already be members of local buy/sell/trade Facebook Groups. Users can post an item for sale, specify a pickup location, and other users can bid or buy it. The two people then arrange a meeting and transfer of funds between themselves; Facebook takes no part in the actual transaction. The feature is available on Facebook's mobile app in the US, UK, Australia, and New Zealand. Facebook says the feature is coming to more countries and to desktop soon. The new iteration is only available to users 18 and older.

This isn't Facebook's first attempt at a buy/sell feature, CNN points out. In fact, it's not even the first attempt under the "Marketplace" branding. The company tried a similar initiative in 2007, which was eventually administered by a third party, and then quietly disappeared from Facebook altogether. With a mobile-first focus, Facebook is hoping this new version will have a little more staying power. (More Facebook stories.)