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Why hasn't Facebook etc come up with viable eb competition?
 

I often wonder why fb haven't come up with a viable alternative?

They have the customer base and are well enough known

If they had a fb aassociated 'buy it now' type marketplace with built in payment/check out area they would confine eb to history

Anyone else got any thoughts on this?

Re: Why hasn't Facebook etc come up with viable eb competition?
 

I’ve also wondered that therefore following this thread

Re: Why hasn't Facebook etc come up with viable eb competition?
 

Re: Why hasn't Facebook etc come up with viable eb competition?
 

It's competitive but fb marketplace has always seem more geared for local sales avoiding shipping...

Re: Why hasn't Facebook etc come up with viable eb competition?
 

Yeah it's a different animal for sure. They're making boatloads of money with their current platform, so that's why they aren't in a rush to complicate things by trying to complete with the Ebay's and Amazon's in the world... for now anyway.

Re: Why hasn't Facebook etc come up with viable eb competition?
 

Because like with any other free service the users are the product on facebook and they're already doing quite well with that business model. For them to get into e-commerce they would probably need all new compliance and risk management departments among other things. With the way Facebook likes to eat up other tech companies I think it's more likely we see them acquire some e-commerce startup and then integrate it into their existing platform. I don't think it's very likely that will happen though. Sure FB could make a dent in eBay's bottom line - but not Amazon's.

Re: Why hasn't Facebook etc come up with viable eb competition?
 

For the same reason ebay doesn't come up with a facebook competitor. It sounds easier than it is. Yahoo and Google tried and failed to compete with Ebay. Once you have the network effect and reach critical mass, it is an extremely tough hill to climb.

That is why there is not this constant sequence of companies dethroning each other.

Re: Why hasn't Facebook etc come up with viable eb competition?
 

Im shocked most people dont know that they do with 5% fees. I sell certain items with BIN and zero communication with the buyer. Payments comes very slowly and sent to paypal or a checking account. Sometimes it takes weeks for the money to arrive.

Re: Why hasn't Facebook etc come up with viable eb competition?
 

No Need if it's already profitable in their eyes

"Facebook’s push into e-commerce features is starting to pay off. Facebook Marketplace, the Craigslist-like service where users buy and sell with each other, now has one billion users, Mark Zuckerberg shared in an update during the company’s latest earnings call."

"So far, though, the company is doing just fine. It reported just over $26 billion in revenue, an increase of 48 percent from last year. It also grew its user base to 1.88 billion daily active users"

Re: Why hasn't Facebook etc come up with viable eb competition?
 

If you have the correct products, you can make a very nice car payments worth of income from marketplace with very low product cost. Extremely niche and directed at target markets. You really cant had the flaws considering its only charging 5 points.

There is a method to figure this out. Don't overthink it. One hint: Do your digging and research on FB marketplace with your phone app and not your computer browser.