Facebook venturing into location-based services

Social networking giant Facebook is reportedly venturing into location-based services, allowing users to add their whereabouts to status updates.

The company is also planning a tie-in with fast-food chain McDonalds that will allow users to check in at any McDonalds outlet near them and receive reward coupons.

Citing sources close to the matter, a report in advertising and marketing website AdAge revealed the social network is working on an application with McDonalds, based on geo-location services that will be rolled out in the near future.

The move will allow Facebook to compete head-on with other location-based social networking platforms like FourSquare, which allow users to share their location with friends.

Facebook's 450 million global user base should ensure the scheme's swift popularity, particularly given that 100 million of its users update their status from mobiles on a daily basis.

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