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Facebook Tackles Deals Via 'Buy With Friends'

 & Chloe Albanesius Executive Editor, News

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Is Facebook moving in on Groupon and LivingSocial with its own deals site? Deb Liu, the company's head of commerce product marketing, told the crowd at the Inside Social Apps Conference conference this week that Facebook is testing a "Buy With Friends" feature that will add deal options to the Facebook experience.

Forbes reports that users could share information about their purchases in their news feed, but sharing that info will let others "unlock" a deal related to the product being discussed.

Those purchases will be related to social games and virtual goods. Facebook announced Tuesday that the use of Facebook Credits - its virtual currency - will be mandatory for developers starting July 1. So users can purchase things via Credits, share that via Facebook, and uncover deals in the process. According to Forbes, Liu said that more than 50 percent of test users shared purchases with their friends.

Facebook did not immediately respond to a request for comment.

Earlier today, Facebook unveiled Sponsored Stories, a feature that will let advertisers promote status update mentions of their brands in a special promoted section. Also today, Facebook introduced two new security features, including the option to encrypt your Facebook session at all times and an easier account authentication process.

Last week, there were reports that Google is prepping its own deals site, dubbed Google Offers. The news came after merger talks between Google and Groupon reportedly crumbled. Groupon completed a $950 million round of financing recently, which it will use for international expansion, technology upgrades, and liquidity for employees and early investors.

Groupon competitor LivingSocial also recently received a $175 million cash infusion from Amazon. A recent offer - $10 for a $20 Amazon gift card - attracted more than one million purchases.

About Our Expert

Chloe Albanesius

Chloe Albanesius

Executive Editor, News

My Experience

I started out covering tech policy in DC for The National Journal, where my beat included state-level tech news and all the congressional hearings and FCC meetings I could handle. I later covered Wall Street trading tech before switching gears to consumer tech. I now lead PCMag's news coverage.

My Areas of Expertise

Getting my start in DC means I still have a soft spot for tech policy; Congressional hearings can sometimes be as entertaining as a Bravo reality show, for better or worse. But PCMag is all about the technology we use every day, as well as keeping an eye out for the trends that will shape the industry in the years ahead (or flop on arrival). I've covered the rise of social media, the iOS vs. Android wars, the cord-cutting revolution that's now left us with hefty streaming bills, and the effort to stuff artificial intelligence into every product you could imagine. This job has taken me to CES in Vegas (one too many times), IFA in Berlin, and MWC in Barcelona. I also drove a Tesla 1,000 miles out west as part of our Best Mobile Networks project. Of late, my focus is on our hard-working team of reporters at PCMag, guiding and editing their robust coverage.

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