The social-media giant has been working on a news-reader project, which is being called “Reader” internally, for more than a year, the paper says. It will showcase news content shared by Facebook users in a format designed for a mobile device, according to the report, which cited “people with knowledge of the matter.” Mark Zuckerberg, founder of the Menlo Park, Calif.-based social-media juggernaut, has said he wants Facebook to be “the best personalized newspaper in the world,” according to the article. There is no release date for the product yet.
Since its initial public offering just over a year ago, Facebook’s stock price has declined by more than one third. As the social-media giant, which currently has 1.1 billion users, works to revive its image, it has announced several new features in recent weeks, including Twitter-like hashtags, Vine-like video clips and Twitter-like verified pages.