What is Facebook Places?

Watch this Apple-like video from Facebook that explains their new location based service, Facebook Places. Essentially, it allows users to tag their pictures, comments, and status updates to physical locations that can be revisited by their friends or themselves years down the road. You can also use the service to see where you friends are now and which hang-outs they frequent.

This powerful feature has been in the works for years at Facebook and everyone is excited to see it finally launch. The adoption of location based services like Gowalla and Foursquare proved that people were ready to share their physical location with their friends and family. Now that Facebook has opened the door, expect to see a rush of people (and advertisers) jumping onto the location bandwagon.

When setting up ‘Places’ on your Facebook account, be sure you fully understand the privacy settings.