Facebook might be working on its own news reader, according to reports by the Wall Street Journal. Sources familiar about the secret project that Facebook is working on, say that it is called Reader internally, and is a service that displays content from Facebook users and publishers in a format that's compatible with mobile devices. The same sources also said that Facebook had been working on the project for over a year, well before Google announced the closure of Google Reader in March 2013.
When Mark Zuckerberg founded Facebook in 2004 as a college social network, he wanted it to be a hub for users to interact with friends and classmates. Today the service is still predominantly used by consumers to keep track, via posts and photos, of friends and family. But more recently, Facebook has pushed hard to become a destination for users' interests—a hub where they can discover news and follow real-time events and conversations.
Analysts also added that it will be hard for Facebook to pull off such a service, since it will be competing against other services from Twitter and Linkedin, as well as news aggregators like Flipboard and Pulse, who already have an established base of users. However, it makes sense for Facebook to create such a service as it gives them the opportunity to find out even more about their users, thus delivering ads with pinpoint accuracy while keeping their eyeballs on the sight at the same time.
Facebook hasn't been able to comment on the existence of this service, so there are absolutely no details as to when it will be launched, or if it will even see the light of day. However, once we get additional information, this article will be updated.
Source: Wall Street Journal