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John Lynch

Johns reaction: Its taken them this long? Groupon was said to have valued its business at US$25bn while reviewing a possible IPO.

Facebook is about to add yet another new product to its revenue-generating machine, widely predicted to be unveiling a Groupon competitor at a press conference in California shortly. The new service is confusingly dubbed 'Facebook Deals' as distinct from 'Facebook Places Deals', which it launched in the UK in January and the US last November. That service let users check in to venues using the Places location tool to take advantage of special offers. though there has been little buzz about the service since launch. The new service, as predicted by Bloomberg last month, is likely to launch in San Francisco, San Diego, Dallas, Austin and Atlanta. Rather than based on check-ins, Deals will be more like a daily deals offer, and Bloomberg said Facebook planned to test the service during March.
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