With the launch of the new Deals service for Facebook Mobile, the application turns the social graph into something quite useful, money.
Mark Hachman of PCMag is reporting that Facebook employees demonstrated the new Facebook Deals on the iPhone. Once a user logs onto Facebook they can look for a list of nearby places which might have a yellow price tag to the right of them. This is a deal and clicking on it will open it up. There are four types of deals charity, individual, friend, and loyalty.
Businesses offering deals can access the workflow via a single page, and can decide what kind of deal to set up. Up to two lines of text can be added for the description of the deal. With the friend deals merchants can entice existing customers to bring along new friends. An example was given of a restaurant giving away a free appetizer to a group of five people.
Deals will launch with 22 partners, and will be opened to 20,000 businesses across the US. Some early promotions were revealed, with The Gap offering the first 10,000 people to check in a free pair of blue jeans on an undisclosed day.
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