Facebook may launch its own news reader as early as this month [Rumour]

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Facebook is all set to launch its own news reader similar to Flipboard sometime later this month.

Re/code, citing an unnamed source “familiar with the matter”, has revealed that the news reader service will be named ‘Paper’ and will offer users quick access to news stories from The New York Times, The Washington Post, and other publications as well as status updates from friend in a visually appealing ‘paper-like’ layout.

Facebook’s VP of products, Chris Cox, will be heading the Paper Project. Re/code reports Cox is willing to “create a type of Facebook experience that people enjoy waking up to and scanning each morning.”

However, it still unclear whether the news reading feature will be launched as a standalone application for mobile device or as a mobile website.

Facebook is yet to officially reveal anything on Paper. When asked to comment by Re/code, Facebook said it does “not comment on rumours [sic] and speculation.”

Last year in June, the company also launched a duplicate of Twitter’s hashtag format to encourage public conversations about popular and trending events.