The Associated Press: Facebook launches deals program, rivals Groupon

What happens when you cross the world's largest social network with
one of the hottest business models in e-commerce? Facebook wants to find
out.

Facebook is launching a deals program Tuesday in five U.S.
cities, following on the popularity of Groupon and other services that
offer deep discounts — for example: $50 worth of food at a local eatery
for $25.

By allowing small businesses to leverage the Internet
while helping consumers score great deals, these group-couponing
services have become some of the fastest-growing businesses in the
world.