Businessweek reported that Facebook will announce the launch of new location-based services soon. The location-based services will allow Facebook's 500 million users to share their location with friends and use location based applications.
Market analysts told that by the new move Facebook was expecting location based advertising market, which is predicted to grow to $4 billion by 2015. This location based services will allow the advertisers to release targeted adverts based on the real-time location of its users.
Earlier for a long time different media reported the launch of location-based services, but Facebook refused to give much information on it's plans.