-First, there is Groupon offering deals and discounts at local businesses and then the copycat sides popped up.
-Retail is for suckers.
Paying full list price for anything these days with everything is going on on the internet; you're not doing your homework.
-Did you know that you can discover deals?
-Now, Facebook wants to get a piece of a lucrative industry that brought in $873 million in 2010.
-Merchants will be able to tap in to this
gigantic customer base of literally half a billion worldwide users.
-Facebook Deals is expected to launch some time soon, but initially only in 5 cities: San Francisco, San Diego, Dallas, Austin and Atlanta.
But with so many users worldwide, expect these bargains coming soon to a city near you.
-Alioto's Restaurant and Chancellor Hotelin downtown San Francisco recently partnered with Facebook Deals to offer 20% discount on lunch or breakfast.
business has been brisk.
-Well, Facebook, we believe is the strongest social media platform out there at the moment.
So, I think by getting the world out to our guests, our friends, friends of friends, family, it's the best way to go.
-Is Facebook Deals potentially the Groupon killer?
-I don't think it's going to kill Groupon.
The Groupon will be threatened.
-For CBS News, I'm Kara Tsuboi, cnet.com in San Francisco.