As with any addition to its services, Facebook Places has received a flood of publicity and commentary.  With this new app, Facebook will join a host of other companies offering location-based services (LBS).  The feature will allow users to “check in” to locations, to inform others in their social network of their whereabouts, and also to tag who’s with them.  Privacy issues aside, the benefit of this last option is that only one person needs to access Facebook in order to include others and write a status update that suggests, “We’re all here, you should be here too”—creating a possible surge in patronage for businesses.
Simply due to the half billion users Facebook has at its disposal, the company stands to unleash a service many may not know exists, effectively over-shadowing the competition. 

Though as of yet only available in the US and on an iPhone, this new tool foreshadows a change to location-based services.  Of course, Facebook continues to market its program to users as a social networking tool, and on its description page, mentions nothing of businesses, only connecting with friends, keeping them updated not only about what you are doing, but where and with whom you are doing it.  The hidden value, however, is not for informing friends of your location, but for businesses to notify you of their locations.  When viewing your position on the map, you will also be informed of nearby establishments, which proposes a boon for smaller companies because it offers cheap advertising, and which will also continue to keep Facebook at the top of the heap because companies will be required to have a Facebook page in order to participate.  Further, Facebook’s subtle sponsored ads could be tailored to your position.  It’s an easy way for advertisers to reach you; instead of them finding out how to get to you, you’re telling them.

At the present time though, Facebook Places has yet to actualise its nascent possibilities.  If you go to the FAQ for Places and click on, “I am an advertiser interested in using Places: Can I target ads to people who have checked into my Place?”, the answer you receive is, ““No, this is currently not possible.”  This present lack in the program keeps the other location-based services competitive.  Easily Facebook’s biggest opposition is Foursquare, which offers tools for businesses to allocate points and “badges” to those who check in to certain locations on a frequent basis.  Similarly, Gowalla and BooYAH!’s major differences are that they suggest a location game, like playing a Nintendo DS, except you’re the character uploading points and levels.  Shopkick, on the other hand, promotes a pure shopping point system.  On these other platforms, deals are conferred by businesses when you check in a number of times.  Possibly the best deal was offered by Virgin through the Loopt Star LBS, wherein a user could “check in” to  a mobile taco truck and receive a $1 two-for-one taco deal along with a two-for-one ticket offer for flights between LA, San Francisco, and Mexico.

Though in its initial stages, the possibilities for Facebook Places seem endless.  For example, I was recently hopping across Europe, the transportation industry making travel between three countries in three days relatively easy, ATMs making funds readily available (barring hidden service fees), and Wi-fi access on my phone keeping information at my fingertips.  Before taking the trip, I notified my bank, so they would not view my intercontinental  transactions as suspicious.  If Facebook Places will know where I am, perhaps my bank should too, and inform me of the locations of their partner branches, thus providing better service,  saving me both time and money.