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Facebook Challenges LinkedIn, Google & Microsoft

November 19, 2014  |  Posted by: Giovanni DePhillips
Facebook Challenges LinkedIn, Google & Microsoft Image courtesy of dailytech.com

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Facebook is planning to launch a separate online social network for professionals, challenging other services offered by LinkedIn, Google and Microsoft.

According to the Financial Times, a source familiar with the News, reported that the world’s largest social network is “secretly working” on a new online service called Facebook at Work.

The service would also enable users to chat with colleagues, connect with professional contacts and document sharing – which is already offered by Google Drive and Microsoft Office.

Some of the developers working on Facebook at Work are based in London, the FT noted.

The new site, which has been used by Facebook employees in their daily work, is currently being tested with certain companies ahead of its launch.

Facebook at Work is expected to claim a big market share from LinkedIn, which is currently one of the leading websites for online business networking with more than 90 million active monthly users.

Facebook at Work will also challenge Google’s drive, email and chat products and Microsoft’s Outlook email service, Office software and corporate social network

Facebook third quarter revenue increased 59% from last year, raking $3.2 billion dollars.

Revenue from advertising was $2.96bn, a 64% increase from the same quarter last year.

Quarterly profit increased 90% to $806m, while adjusted profit increased 73% to $1.15bn.

Despite the strong results, the company’s shares declined after it said it would significantly increase its spending. In a conference call with analysts, the company’s chief financial officer David Wehner said its expenses would go up as much as 75% for the year, in line with its move to invest in both engineering and acquisitions.

“We are going to continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms,” CEO Mark Zuckerberg said.

Facebook acquired WhatsApp in a gigantic deal for the mobile messaging application.

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