The social giant, Facebook is going to promote a new service, the mobile news reader. It is called "Reader" by the people in Facebook, and it is designed and formatted especially for mobile news. The reader will show the content of the Facebook users' account and the news provided by the publishers.

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According to some sayings, the project has been on for more than a year. The latest version of the Reader is similar to Filpboard, which is an application for smartphone and tablet. The Flipboard collects news from various sources, and the users can read the news by flipping the articles.

It is still known yet when Facebook is going to announce the program. It is aimed to attract more attention from the users by launching the Reader, and also provide the platform for advertisement. Obviously it is a big move for Facebook to stimulate their stock price, which is still 35% lower than their IPO.

It is clear that Facebook is trying to convert themselves to a different type of social media. At the first time when Mark Zuckerberg established, he wanted to make Facebook as a tool for friends, classmates to communicate. When the users are turning their interests to other directions, it is the time that Facebook makes the change.

This mobile reader, like Flipboard is becoming more and more popular. LinkedIn purchased another mobile news reader, Pulse early this year at the price of ninety million. LinkedIn claimed that they would like to make LinkedIn as a reliable platform for the publishers.

Greylock, the senior investor, who ever worked for product development for both the Fackbook and Twitter said, it is important to have a reading platform which the users will stick to. This function is quite essential for bringing more advertisement profit.