08/18/2010 05:57 pm ET | Updated May 25, 2011

Facebook Places Announcement Coming? LIVE Video Of Facebook Press Conference On New Features

Facebook is scheduled to hold a press conference beginning at 5PM PT to provide "an update on the service's features and products."

At the event, Facebook is expected to unveil its long-anticipated geolocation feature, unofficially known as Facebook "Places."

Inside Facebook
explains what the new tool might offer:

Facebook may unveil location features tonight that will let users tag their status updates with where they are and "like" or establish relationships with Places. Facebook is approaching location as a platform play; it will probably allow other popular location services like Foursquare, Booyah's MyTown or Gowalla to contribute check-ins so long as they are structured in a way that the social network can transform into search results or other offerings.

Follow the Facebook announcement live below.


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