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Facebook send out invites to press event on Wednesday, location announcement to be made?

Facebook has begun sending out invites to select media outlets All Things D reports, inviting organizations to attend a "news event" at the company's US headquarters on Wednesday afternoon.

According to the invite, users will be spoken to by "Facebook executives" who "will provide an update on the service’s features and products" on Wednesday afternoon (US time).

It's thought that the social networking giant will use the opportunity to unveil their long-awaited implementation of a location-based product that will allow Facebook users to share their location with their friends and family. It's not clear at this stage how Facebook plan to integrate their implementation of the product, but other location-aware competitors such as Foursquare allow users to "check-in" to their current location or venue and share it with their friends, competing to become the "mayor"  -- or the person with the most check-ins.

At one point in time, Facebook was thought to be considering buying Foursquare, which has seen runaway success over the past year or so, who are now witnessing more than one million check-ins a day.

However, it's now thought that the company's offering will be a lot less competition based, and more about the sharing of places you've visited with your friends and family, with Facebook likely to closely integrate privacy features into the product in order to avoid a repeat of the privacy scandal which shook the company earlier this year.

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