FaceBook Marketplace is one of the more recent responsibilities at Facebook for Liu , and something she’s been heading towards through a career that spanned roles at eBay and PayPal.
“I gave up all my other projects to focus on this,” she says. She has been working with Groups for a year and a half while planning on building a separate platform. The platform is experimenting with machine-learning and computer vision to enable easier listing for marketplace sellers and offering no fees generating revenue by offering promoted postings and ads services for businesses that appear within the Marketplace. It has been reported that over 600 million people across 70 countries are using the Marketplace each month.
Facebook outranks Ebay with users and the Marketplace poses an obvious challenge for both Craigslist and eBay, and note that eBay reported only 9% revenue increase currently, while sellers continue to close up shop moving over to other platforms. Facebook Marketplace growth is exploding. Now Ebay sellers have a choice and that choice is easily determined by having the option of not paying the increasing seller fees with eBay, while being able to offer products to a much larger audience. I am all for saving 10% final value fees with eBay and the paypal fees. No fees will be a “no-brainer” for me!
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