The service was set to compete with daily deal sites like Groupon, LivingSocial and Gilt.
Says the social networking giant of the move:
After testing Deals for four months, we've decided to end our Deals product in the coming weeks.
We think there is a lot of power in a social approach to driving people into local businesses. We've learned a lot from our test and we'll continue to evaluate how to best serve local businesses.
Four months ago, Facebook starting testing the service in Atlanta, Dallas, Austin, San Francisco and San Diego, in an effort to boost its revenue sources.
The daily deal site market is quickly becoming oversaturated, with Groupon now facing competition from cash-rich behemoths like Google and Amazon.
Written by: Andre Yoskowitz @ 27 Aug 2011 20:34
