Asia Bizz: Social networking website, Facebook, has recently announced that it would end the daily deals program. The daily deals program had started testing four months back and has left Groupon to continue the monopoly in the market.
Facebook, in a statement, said that there is a lot of power in the social approach driving people in the local business. The statement added that they have learnt a lot from the test and will continue to evaluate to make the service even better.
The social network had launched the Facebook Deals offer in the month of April and had brought competition to the daily deals leader Groupon and the rival LivingSocial. The programs were debuted the five cities Atlanta, Dallas, Austin, San Diego and San Francisco.
Meanwhile, Google has shown its desire to deal in the daily deals market, after its unsuccessful attempt to buy Groupon last year. The search engine had attempted to buy it for $5.3 billion. But at the same time, the market share of the Chicago-based company had shot to $25 billion, after which it had prompted to spurn the offer of Google. The decision is now left to the daily deals leaders LivingSocial and Groupon to consolidate their position in the market.
