Facebook Black Market? Apologies Already Needed For Marketplace

Facebook Inc's (NASDAQ: FB) launch of Marketplace already has the company releasing an apologizing for a reported glitch in the system. Facebook users took to the new marketplace to list everything from guns and drugs, to animals and adult services.

Think Craigslist on steroids.

With 1.7 billion Facebook users, there's no question it would be difficult to monitor all that goes on with its Marketplace, especially just one day after its launch. eBay Inc (NASDAQ: EBAY) has been known to be vigilant when it comes to questionable listings; just last week the company took down Martin Shkreli's charity listing that offered a chance to punch him in the face.

Related Link: Craigslist Vs. eBay Vs. Facebook Marketplace

"We are working to fix the problem and will be closely monitoring our systems to ensure we are properly identifying and removing violations before giving more access to marketplace" said Mary Ku, Facebook's Director of Product Management.

While Facebook entering peer-to-peer could be a huge burden to eBay, some protection features that eBay spent decades developing like its seller protection service and feedback star ratings offers a safer transactional experience at this point.

Facebook Marketplace doesn't have a secure payment system, feedback, and doesn't facilitate delivery like eBay does in some cases.