Facebook Marketplace reaches 1 billion users

Facebook Marketplace has one billion users and is quickly becoming a serious e-commerce play for the social network. Challenging the likes of Craigslist and even eBay, Marketplace allows anyone to sell used or new items. It has many advantages, the main one being a lot of Facebook users are already on the service by default and don't need to sign in. It also works for localized sales, where someone in your neighbourhood can simply come and pay you cash for your goods. Facebook also doesn't take a cut of smaller sales unlike eBay, which garnishes a percent of the value of the selling price.

For most Facebook users, Marketplace is a small tab on their screen but as an avid buyer and seller I've been able to buy a used car, a used bike, an antique Eames aluminum group lounge chair, two used air conditioners, and sell various electronics, and find rare parts for computer and car projects. Granted, each of these transactions had to be done face to face, and I was apprehensive of the outcome, they all worked out positively for me in the end. 

There are indicators that some things are about to change in Facebook Marketplace, as soon as the company gets critical mass in any one of its products, it pushes advertising. Facebook is looking at its own cryptocurrency, which it could make a payment option, if such a thing was possible. Right now, however, Facebook marketplace is an outstanding place to buy and sell used items.

Source: Engadget