With the much-awaited launch of Facebook (News - Alert) Places from the leading social media Web site, people can now “check in to real-world locations such as bars, parks and live concerts,” reports Associated Press. The app was launched on Wednesday.

The social network’s foray into the location services enables it to join a growing number of services that allows users to find coupons, earn quirky merit badges or simply share with friends where they are, the report said.

With the widespread availability of smart phones that have Global Positioning System or “GPS” and other means of determining the user's location, the location services from startups like Foursquare and Gowalla have grown in popularity. The social media giant has now made an entry to this arena of opportunities.

The Facebook's version primarily works through the site's iPhone application. The users can download a free update of the Facebook app. Users of other touch-screen gadgets can get the feature through visiting touch.facebook.com on their mobile Web browser. The company will soon announce Places to other smart phone apps, according to company sources.

The “check-in” gives you an option to check in to a location. Your check-ins would be shared with your friends by default and not to the broader public unless you want to. The “tag (News - Alert)” feature gives you an option to tag your friends in your status updates.

Another feature called "Here Now" lets anyone who has checked in to a place see who else has done the same. Other Facebook users who have checked in to the same location will be able to see you even if they are not your friends, but you can turn this feature off.

The first time you check in, a message will pop up letting you know that your locations will be visible to your friends and to others who have also checked in there. You'll need to either accept or deny this.

Like several previous features announced by Facebook, privacy and security concerns are likely to come up for Facebook Places as well, according to experts.

Privacy advocates including the ACLU of Northern California already hinted that Facebook Places lacks adequate privacy protections. Brad Shimmin, an analyst at Current Analysis (News - Alert), told Computer World that the privacy settings are confusing, making it difficult to opt out.

"The fact that it's turned on by default really ticks me off as a user," Shimmin said. "They keep requiring users to jump over hoops to protect themselves."

However, Jules Polonetsky, a former AOL (News - Alert) executive who now co-chairs the Washington-based Future of Privacy Forum, said, “Following the flaps created by earlier launches, Facebook seems to be taking a more moderate approach to location sharing. Just about everybody recognizes location as something that you want to be in control of.”

Polonetsky said, “In the past, what created flaps is that people were pushed to share more, or they were surprised they were sharing what they (didn't think) they were sharing. Marketers want to reach consumers when they are at the point of making a purchase decision and locations services offer that opportunity.”

Facebook has opted not to offer Places into a game. It’s only a socializing feature; there are no mayorships or merit badges, company officials said.

The company also announced instead of squashing the small location-based service providers like Gowalla and Foursquare, Facebook is partnering with them to integrate their services into Places so that users can check in to Gowalla, Foursquare on Yelp (News - Alert) and share it on Facebook.

A bigger opportunity Facebook may explore through Faces will be targeted ads. The company has already hinted it will eventually let restaurants or shops claim their locations, which could open the possibilities for targeted ads, deals or coupons for loyal customers.