Facebook Inc (NASDAQ:FB) has launched a feature called “Place Tips”, which allows you to know about the famous restaurants, recreational spots, stores and other places you might like to visit. An article on Business Insider reported this and said that Facebook Inc (NASDAQ:FB)’s new feature is directly targeting the location-based app called Yelp, used by millions across the world.
Facebook Inc (NASDAQ:FB) is reorienting itself heavily. Hardly a week goes without a new launch of a feature of something big from Facebook.
The new features works in a simple way. Whenever you are on the move, or nearby to a place which Facebook Inc (NASDAQ:FB)’s algorithm thinks you might like to visit, a small pink spot will appear in your feeds. Upon clicking it, you will see the details of the places that are famous, nearby, and visited by your friends. Details will be showed along with reviews, photos and contact information. This is a disaster for Yelp, as it has a big market share and customer base from the same area, which is now targeted by Facebook Inc (NASDAQ:FB).
The source said that Facebook Inc (NASDAQ:FB)’s strategy of giving new features in the main Facebook Inc (NASDAQ:FB) app is working. In the past, Facebook launched some separate apps for some features. Facebook’s Paper app was to give users a place to get news from Facebook Inc (NASDAQ:FB) feeds. It was a flop, because of the fact that people don’t like to switch in between the apps. The best way to give features is to insert them into the normal, main and centric app that people use daily.
Ken Griffin holds 4.58 million shares worth $307.87 million of Facebook Inc. (NASDAQ:FB).