Jun 12, 3:30 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Evan Niu 06/09/18 AT 3:13 AM It’s now been over a year and a half since social networking juggernaut Facebook (NASDAQ:FB) rolled out Marketplace, its second shot at local commerce that competes with Craigslist as a classifieds service. Much like Craigslist, Marketplace is merely a listing service and does not directly facilitate the transaction or process payments, which both limits its liability because Facebook plays a limited role and reduces its monetization potential since the company is not entitled to a cut of transactions.This article originally appeared in The Motley Fool.Instead, Facebook is turning to a familiar monetization model: ads.For ad buyers, big and smallEarlier this week, Facebook announced it was rolling out promoted Marketplace listings, initially as a limited test in the U.S. Marketplace is being added as a placement option for advertising customers, in addition to mainstays like News Feed, Instagram, Messenger, and Audience Network.The option isn’t limited to just businesses, either: Facebook is also allowing regular users to promote their own listings to nearby users. The only targeting options available for regular users initially will be just specifying a zip code or only displaying the listing to users above the age of 18. Regular… Read full this story
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