Facebook has announced that it will be shutting down its Facebook Gifts service in August. This service had allowed the social network’s users to purchase and trade gift cards from
businesses like Starbucks and Fandango. Shutting down the Gifts service will result in no layoffs, as those working on this service will have their attention refocused on Facebook’s Buy
initiative. Earlier this month, Facebook unveiled the Buy Button, which is meant to promote mobile and e-commerce. Facebook Gifts was launched in 2012 and was moderately popular among the social
network’s users. Gifts and the Buy Button will serve a similar purpose that makes the existence of both services somewhat redundant.
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