Facebook Tries To Become The New Craigslist As Stock Continues To Nosedive

For years I’ve wondered why Facebook hasn’t made more of an effort to create a solid classifieds section. It once had something called “Marketplace” but then kind of phased it out as I recall. Looks like they might finally be getting around to giving it another crack.

Reports The Daily:

Two sources within Facebook, who spoke on the condition of anonymity, have independently told The Daily that development of a classifieds project is on a fast track, not just as a way to not just engage its millions of users but also as a way of allowing them to engage each other.

The new tool, which is tentatively called Marketplace (borrowed from another deprecated Facebook app) would allow users to create short advertisements that appear in their friends’ news feeds notifying them of everything from apartment rentals to furniture sales to job boards. In short, practically anything you do on Craigslist can be done with this new service.

Let’s say you’re trying to sell a couch. Much like the way Facebook’s “promoted posts” work you’d pay a nominal (less than $5) fee and a tidy little ad for a used couch would appear in your friends’ feeds.

Meanwhile, Facebook’s stock tumbled even further after many of its employees — just today being given an opportunity to sell their stock — elected to do so in high numbers. Because if anyone knows a sinking ship, it’s the people aboard it, right?!