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Read it at The New York Times
Groupon may be steaming toward a $25 billion IPO, but not if Facebook has anything to do about it: The social network launched a new service offering online discounts in five cities on Tuesday. Facebook “Deals” will begin in Atlanta, Austin, Dallas, San Diego, and San Francisco. People will recommend deals and see their friends’ purchases; the company will focus on deals that are best done with friends, like concerts or events.