The social media website will be taking on Yelp and Angie’s List by launching it’s own searching directory for local and, apparently, international business.
Facebook, Inc., considered as the best performing investment in the market, has redefined itself from a social media company to an Internet services company since it is tapping the e-commerce, crowdfunding, payment process and search engine markets as well. From these additions to platform, it is quite evident that the stock of the social media giant is only going to go higher from here.
At the trade session on Friday, the social media stock was being traded at $104.04 with a decline of $2.05%. This session commenced with a share price of $106.08; it was seen at a higher end of $106.59 and a low end of $103.97. Towards the end of the session the number of Facebook shares being traded was 35,994,199 shares. Current outstanding shares in the social media company are 2,827,994,100 shares.
Next step for one of the four biggest growth plays (rest three being Netflix, Inc. Amazon, and Google) is to launch a service by the name of “Professional Services”. According to ProfileConfidential.com, this new service will allow Facebook users to search and locate local businesses entirely on their ratings and reviews. The social network is very discretely working on this new feature by gathering and compiling a directory of such local businesses and professional service providers which include plumbers, salons, event managers, child care providers etc.
The largest social media network will be competing with the market leaders Angie’s List and Yelp; currently it is learning the strengths and weaknesses from both these professional service providers. Along with these two, Amazon and Google have been working on launching the same service as well. In March, the retail giant will be launching its “Home Services” nationwide while Google will launch an extension for the service. Facebook however is aiming at not just including local businesses but other types of business as well.
Earlier in December, the social media website stated that it has over 50 million active pages on its platform which was at 40 million as of April. To make the experience user friendly, the social media network has been providing its pages owners with new options every now and then, from the Buy Button to the calls for action option. These options don’t only make the experience better for the owner of the pages but also makes the communication between the customers and the owner more convenient.
According to techcrunch.com, it seems that the facebook’s services option is not only for the business in the United States, as upon searching, it was found out that business in Europe, Asia and other countries were available on the website as well. Whatever it is that the social media giant is working on, is going to be big.