Facebook Creates New Shopping Center on Its Platform

Facebook Shops will enable users to buy a company’s goods on Facebook or Instagram or to link elsewhere to buy them.

The service will allow businesses to create storefronts within Facebook and Instagram, listing products on their Facebook page and their Instagram profile. The listings will either link to outside sites to buy the products or allow users to purchase them directly on Facebook.

Facebook shares recently traded at $219.60, up 3.01%. The stock has firmed 1% over the past three months, compared to a 12% drop for the S&P 500.