LONDON (ShareCast) - (ShareCast News) - US social media giant Facebook's expansion continues as it has launched "Marketplace", a local online buy-and-sell platform for its users.
In a blog post published on Monday, the company's director of product management Mary Ku said the service will launch in the United Kingdom, United States, Australia and New Zealand.

Marketplace will include both an app for tablets and smartphones, as well as a desktop version, in an attempt to compete with the likes of eBay and Gumtree.

Many people buy and sell products and services via Facebook as it is, through popular groups with thousands of members.

Ku said the introduction of Marketplace the process of buying and selling for Facebook users will become much more convenient.

"Marketplace makes it easy to find new things you'll love, and find a new home for the things you're ready to part with," the blog post read. "We'll continue to build new options and features to make this the best experience for people."

Initially there will be no charge for users to post ads or make purchases between one another, the company said.

Facebook traded marginally higher in US trading on Monday.

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