CEO: Facebook closes in on location-based service

Facebook is getting ready to debut a location-based service that would allow merchants to target nearby customers with personalized deals, CEO Mark Zuckerberg said this week. As membership in the world's largest social network continues to grow, it's attracting a growing number of large advertisers, including Nike, whose recent Facebook campaign around the World Cup saw success.

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San Jose Mercury News (Calif.) (free registration)

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