What Facebook Deals means for Groupon and friends
What Facebook Deals means for Groupon and friends
1:27

What Facebook Deals means for Groupon and friends

Tech Industry
-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. So far, 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.

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