Will Facebook Announce Geolocation Service This Wednesday?

The folks over at Foursquare might have something to worry about, as Facebook has begun to send out invitations for a news event at its Silicon Valley HQ this Wednesday. While it wasn’t explicitly mentioned what the event will be about, the smart money is on the announcement of Facebook’s own geolocation offering that will challenge Foursquare. Whether such an announcement will make a dent in Foursquare’s popularity or not is another issue, but it’s certainly something that Foursquare, and even Google, will be keeping an eye on.