Remember when Glancee, Highlight, Banjo, and Sonar  were all trying to help you find people nearby by constantly tracking your whereabouts? Facebook  is working on its own version of the concept, according to a Bloomberg report .
One of the biggest differences will be that Facebook has more than 1 billion users, so the chances of running into someone who also uses the app are greater. The team from Glancee, which Facebook acquired last May, and the team from Gowalla, which Facebook acquired in 2011, both reportedly had a hand in building the new app, which is scheduled to launch in mid-March.
Facebook already tracks users' locations through geo-tagged posts. But constantly tracking users' locations could make just about everything else on the platform--advertising and its new Graph Search product  included--more valuable. It would be just one more reason the company really doesn't need its own phone .
[Image: Flickr user Kellee_G ]