Facebook Exits Daily-Deal Space After 4 Months of Testing

Facebook is getting out of the daily-deals business after four months of testing, a move that may ease some competitive pressure on industry leaders Groupon and LivingSocial. The world's largest social network launched Facebook Deals in April and started making offers in five cities with a small sales team arranging deals with local merchants. But the company also ran offers that were set up by 11 other daily-deal companies, including ReachLocal, Gilt City and Zozi.