Facebook has invited media to an event where they would launch a brand new product.
Industry analysts believe that the company might launch their own news reader app to attract users who are annoyed at Google for killing their Reader platform.
Google Reader is set to be discontinued at the end of the current month.
There have also been indications that Facebook is planning to expand their Notes feature into something bigger.
Yahoo recently acquired Tumblr which has become a major blogging platform in the recent years. It is massively popular with teens who are leaving social platforms like Facebook to focus on private blogs.
This event could be connected to something that Facebook has been working on to provide an alternative to Tumblr like services.