Facebook working on 'News Reader app'

Social media giant Facebook is reportedly working on news service application, which will collect all the news shared on the website and make it easier to browse through the various applications for the iPhones and iPads.

The app called, the ' Reader app' is said to be similar to a popular app 'Flipboard' which allows users to create their own custom magazines by logging in through their social media accounts, ABC News reports.

Facebook recently launched ' clickable hashtags', a feature through which users can click on the hashtags and are taken to a feed related to the tagged topic and see what others are talking about.

According to the report, although Facebook said that the new app, which has been worked upon for more than a year, will not be released anytime soon but the company has said that it will announce more hashtag features in the coming weeks, which will include a list of trending tags.

With Google planning to shutdown its Google Reader RSS service in March, other software giants are coming up to provide users with creative alternatives. Digg, AOL and Feedly have already launched their alternatives to Google reader.

Facebook CEO Mark Zuckerberg said that he plans to transform the NewsFeed feature of the website into 'the most personalized newspaper' adding that it should have a first page but also allow the user to drill down to any topic they want, the report added.