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Facebook Launches Local "Deals"

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    NEWSLETTERS

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    420) Dustin Moskovitz is one of the co-founders of Facebook and getting in early has been good to him. The 26-year-old is one of the youngest billionaires in the world with a net value of $2.7 billion. (Photo by Kimberly White/Getty Images)

    Facebook has a new service on the horizon, one that will let users subscribe to updates about location-based deals.

    The service, cleverly called "Deals," will soon give users updates about nearby promotions.

    All Things Facebook calls it a heavy-handed tactic, but should prompt more local businesses to offer discounts and free gifts to those who check-in.

    The first cities to get the new Deals app will be San Francisco, San Diego, Dallas, Austin and Atlanta.