AOL launches classified ads site

AOL has announced the launch of a new British-based website for classified ads. AOL Classifieds will allow people to post their ads for free and enable would-be buyers to search through its listings by using postcodes.

In announcing the launch, AOL's Chris Spanos said: "With the current economic climate, providing consumers with an easy way to buy and sell merchandise and services, or make local connections through classifieds is becoming even more important."

This initiative will be competing with several other popular classified sites, such as gumtree, craigslist, fish4, freeads and Loot, not to mention a legion of regional and local newspaper sites.