According to Mashable, Facebook is looking to to launch a local classifieds service targeting poor college students.

The idea is that it would be free to list items within your network, but you’d have to pay to post an item in other networks.

Facebook is already trying to be the new Twitter. The buzz about Facebook looking to buy Twitter died this weekend when Facebook updated their “status” feature, allowing users to update and check status via text messages, as well as providing a site and a feed for your friend’s statuses.

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