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Facebook kills daily deals business

Just four months after it began testing its daily deals offering, Facebook has killed the product, saying it’s learned a great deal from the exercise and will “continue to evaluate how to best serve local businesses.”

Reuters reported Facebook said whilst it recognises there is power in a social approach to driving people into local businesses, it won’t be continuing with the product and will focus on developing other products like Ads, Pages and Sponsored Stories to connect businesses with potential customers.

Facebook was testing its daily deals product in five US cities, including San Franisco, Dallas and Atlanta with a small sales team organising deals with businesses in those areas.

It also ran offers arranged by 11 other daily deals companies, such as Gilt City, ReachLocal and Zozi.

The company also reiterated it will continue with its Check-in Deals offer, which has just launched in Australia and allows users to check-in at local businesses and see deals being offered.

Lorna Bretthttp://www.dynamicbusiness.com.au
Lorna was Dynamic Business’ Social Web Editor in 2011/12. She’s a social media obsessed journalist, who has a passion for small business. Outside the 9 to 5, you’re likely to find her trawling the web for online bargains, perfecting her amateur photography skills or enjoying one too many cappucinos. You can follow her on Twitter @DynamicBusiness