Facebook is preparing a new office version of its social networking site to compete with other sites like LinkedIn, the Financial Times reported on Monday citing sources familiar with the matter.
"Facebook is secretly working on a new website called 'Facebook at Work'" that would allow users to "chat with colleagues, connect with professional contacts and collaborate over documents," it said.
Facebook last month reported its quarterly profit nearly doubled to $802 million (640 million euros) but saw its stock pounded after outlining a plan to invest heavily in the future instead of revelling in short-term riches.
"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," Facebook founder and chief Mark Zuckerberg said then.
"We have a long journey ahead," he said. Facebook, which has 1.35 billion monthly active users worldwide, was set up in 2004 by Zuckerberg with fellow students at Harvard University who wanted to set it up as a college networking site.