Facebook Deals, DOMA: Hot Trends
NEW YORK (TheStreet) -- "Facebook Deals" is a hot net search as Facebook launches its new local business discount service in Atlanta, Austin, Dallas, San Diego and San Francisco on Tuesday. Many media outlets have speculated that Facebook is likely expanding its Deals service to compete with "social buying" coupon sites such as Groupon and Living Social.
The new service builds on its Check-In Deals feature, which allows users to get special offers when they check in at local businesses from their mobile phones.
The "Deals on Facebook" service offers users coupons from businesses in their immediate vicinity when they check in using Facebook's location-sharing service, Places.
"We are working with aDealio, Gilt City, HomeRun, kgb deals, OpenTable, Plum District, PopSugar City, ReachLocal, Tippr, viagogo, and zozi, so you can buy their Deals on Facebook too," Facebook posted on its blog.
"DOMA" is a trending search topic after the King & Spalding law firm announced it will no longer represent the U.S. House of Representatives in defending the Defense of Marriage Act. The firm claimed "the process used for vetting this engagement was inadequate." "Today the firm filed a motion to withdraw from its engagement to represent the Bipartisan Legal Advisory Group of the House of Representatives on the constitutional issues regarding Section III of the 1996 Defense of Marriage Act," the firm chairman, Robert D. Hays, Jr., said in a statement. "Last week we worked diligently through the process required for withdrawal." He apologized for any challenges the firm's resignation may create.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. --Written by Theresa McCabe in Boston.
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