Facebook developing new office version to take on LinkedIn: Report

Facebook is developing a new office version of its social networking site to compete with LinkedIn, the Financial Times reported today 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.

The social network last month reported its quarterly profit had doubled to $802 million but saw its stock took a hammering on a planned heavy investment in the future instead of revelling in short-term riches.

Facebook chief, Mark Zuckerberg, at the time he outlined the investment had said, the company would continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms.

The site, which counts 1.35 billion monthly active users globally, was set up in 2004 by Zuckerberg with fellow students at Harvard University who wanted to set it up as a college networking site.

The site was looking to broaden its offerings, with the launch of an application that lets people chat anonymously in virtual "rooms," evoking the chat rooms from the early days of the internet.

It was also testing a feature that would enable users to make purchases by simply pressing an on-screen "Buy" button.