Facebook is the latest company that is reportedly planning to launch its own Groupon spin-off.
The service will be an extension of the existing Facebook Deals program, according to Bloomberg. Launched in November, Facebook Deals allows businesses to dole out special offers to mobile users, based on their location.
Bloomberg said Facebook's forthcoming Groupon-esque service would start in San Francisco, San Diego, Dallas, Atlanta, and Austin. The social-networking site would work with businesses to promote deals and encourage people to share them with their friends.
"Local businesses will be able to sign up to use this feature soon, and people will be able to find Deals in the coming weeks," Facebook told Bloomberg.
In February, Facebook introduced shared deals for developers. For those games on the Facebook platform that allow you to buy a discounted item, a developer may allow you to share the discount with others, passing it along.
Facebook reps did not respond immediately to a request for further comment.
Groupon also encourages users to share the group coupons they buy with their friends. Usually, the more people who sign up for the deal, the better that deal gets. It's unclear whether or not this would be a feature of Facebook's new venture. However, with 500 million accounts, Facebook has a huge user base to tap into.
The new service will also allow Facebook users to see offers from other bargain-offering sites such as Gilt City, Tippr, HomeRun.com, PopSugar City, KGB Deals, and others, according to Bloomberg.
Facebook isn't the only site throwing its hand into the deal-offering ring. The New York Times Company recently announced that it would launch TimesLimited, which delivers daily deals to a participant's inbox. Additionally, earlier this month Microsoft launched Bing Deals, a service that aggregates the wealth of daily deals floating around.
Facebook has continued to expand the features and services offered on the site. Last week, Warner Bros. let Facebook users stream "The Dark Knight" via Facebook, prompting questions over whether Facebook could become a potential Netflix competitor.