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Newly Launched Online Shopping Feature Sparked Surge of Facebook Shares
Summary: After Facebook announced the launch of Facebook Shops on May 19, stock of the social media giant has spiked up by over 6%. The Facebook Shops allow businesses of any size and budget to set up free online stores on both Facebook and Instagram. Morgan Stanley commented that this new feature could render Facebook a competitor of Amazon and Google.
After Facebook announced the launch of Facebook Shops on May 19, stock of the social media giant has spiked up by over 6%. The Facebook Shops allow businesses of any size and budget to set up free online stores on both Facebook and Instagram. Morgan Stanley commented that this new feature could render Facebook a competitor of Amazon and Google, per CNBC.
Facebook Shops enable users to communicate with stores via multiple communication tools – WhatsApp, Messenger, Instagram Direct – all owned by Facebook. Instead of visiting the merchants' websites, users can directly shop within the social channels, as long as the business allows checkout in the US.
Facebook is to roll out fully the Facebook Shops in the coming months.
By Yiran Dai
Tags: Facebook,Facebook Shops,Stock
Link: Newly Launched Online Shopping Feature Sparked Surge of Facebook Shares [Copy]
