Facebook is now working on a new system named ‘Reader.’ Today, the Wall Street Journal reports that Facebook may be developing a rival to Flipboard.

Facbook Social Reader

 

According to the WSJ, “The social network has been quietly working on a service, internally called Reader, that displays content from Facebook users and publishers in a new visual format tailored for mobile devices, people with knowledge of the matter said.”

“The project, which the company has been developing for more than a year, is designed to showcase news content in particular. Recent versions of Reader resemble Flipboard Inc., a smartphone and tablet app that aggregates stories from multiple sources and lets users swipe to flip through articles, said the people with knowledge of the project.”

The new product system will work on Smartphones and Tablets, but there is no confirmation that it's a rival app for Flipboard, which has nearly 50 million users.  The project is ongoing for a year and it is directly under the control of Mark Zuckerberg.