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Over the last 10 years, Facebook has had a considerable dropoff in use by Gen Zers, down to 32% from 71% in 2014, according to a 2024 Pew Research study. But for the remaining 32%, the platform has become an integral part of their lives thanks to Facebook Marketplace.
Launched in 2016, Facebook Marketplace bills itself as a means for users to “buy or sell new and used items easily…locally or from businesses.” It currently has more than one billion users, making it a notable competitor with the likes of eBay and Craigslist, reports CNBC.
Related: Teen Brothers’ $1.2M Business Began as Facebook Side Hustle
One expert who spoke with CNBC about Facebook Marketplace’s popularity with Gen Z said having a Facebook profile might mitigate some of the risks users encounter when dealing with anonymous sellers on other platforms. The platform also taps into younger people’s desire to save money and engage in buying practices that promote sustainability.
“Marketplace offers both,” said Yoo-Kyoung Seock, a professor at the College of Family and Consumer Sciences at the University of Georgia.
In January, Facebook Marketplace announced a partnership with eBay that will allow select listings to appear on the platform in the U.S., Germany, and France. According to CNBC, analysts project this will bring in $1.6 billion in additional sales for eBay by the end of 2025.
Related: Starting a Side Hustle on Facebook: Advice From $1M+ Earners
Big tech isn’t the only one making money with Facebook Marketplace.
Entrepreneur has profiled many users who started lucrative side hustles on the platform. For example, Leena Pettigrew, a 44-year-old former database analyst from Houston, Texas, started selling plants in the fall of 2022 and grew it to a business that now earns her $25,000 a month.
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