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Facebook's new marketplace gambit

The social network is entering a highly competitive zone of e-commerce where there are big players already. Tools like GrokNet should help it to carve out market share

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Devangshu Datta
Facebook’s Marketplace is a peer-to-peer shopping platform where its two billion-plus users upload stuff they wish to sell. It’s available in 50-odd countries including select cities in India. Facebook doesn’t get involved in deal-making and monetises Marketplace by advertising. Anything new or old that’s legal can be sold (some smart users have worked out ways to sell illegal things too). On Wednesday, the network launched its new offering, Shops, which allows small businesses to open online shops on FB and its subsidiary, Instagram.

In order to boost the Marketplace, FB has developed new AI with some stunning features involving cutting-edge computer
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