Facebook is throwing in the towel on daily deals only four months after stepping into the arena. “After testing Deals for four months, we’ve decided to end our Deals product in the coming weeks,” the company said in a statement to reporters on Friday. “We’ve learned a lot from our test and we’ll continue to evaluate how to best serve local businesses.”
The company launched Facebook Deals in April in five cities with a small sales teams. The site also incorporated offers from deal and flash-sale sites like Gilt City and ReachLocal.
Facebook’s quick exit was a surprise, but not a disappointment, to industry experts familiar with the product. “It is suprising that Facebook ended their deals product after just four months, Vinicius Vacanti, co-founder of daily-deal aggregator Yipit.com, told reporters. “On the other hand, Facebook Deals has been an underwhelming product and experience.”
Read more at Reuters.