Facebook Working On Its Own Reader Similar To News Aggregator Flipboard

Will the move boost the social network's advertising revenue? Construction of the service is said to be slow and measured, unlike a lot of Facebook's product development, with Mark Zuckerberg watching closely.

Facebook is working on its own news aggregator in an attempt to boost engagement on the social network, the Wall Street Journal reports.

The lead designer is Michael Matas, a former Apple and Nest employee, and Mark Zuckerberg is said to be following product development very closely.

The firm's usual mantras—Done Is Better Than Perfect, and Move Fast And Break Things—aren't being chanted during the development of its reader. According to a source, both smartphone and tablet versions are being developed simultaneously, and the firm is experimenting with different ways of highlighting trending news topics on the site.

Google is shutting down its own news aggregator on July 1, prompting a host of other Internet sites to develop their own, such as Digg, whose service launches on June 26. LinkedIn bought news aggregator Pulse for $90 million and is busy integrating it into its own business.

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