After spreading its tentacles in your personal social world, Mark Zuckerberg-led Facebook is planning to enter your office space too. According to a report in Financial Times, Facebook is developing a new version of its website that could be used at workplace. The new site “Facebook at Work” will look and work just like the existing Facebook but you will be able to connect only to people with whom you work.
“Facebook at Work” will help office employees to add and maintain professional contacts, read updates, chat with colleagues, edit documents and collaborate with each other. It will supposedly be a mix of Facebook, LinkedIn. Google Drive, Slack etc. This new version will is expected to be released in January 2015.
The social network market is quite saturated now and Facebook seems to have realized that it must seek other greener pastures if it wants to grow. The Enterprise Software market is huge and growing. Data collected by Gartner shows that there was a spending of US$300 billion in Enterprise Software in 2013 which was expected to grow by 6.9% in 2014 to US$321 billion and by 7.3% in 2015 to reach US$344 billion by the end of 2015.
According to Business Insider, enterprise social networks such as Slack and Yammer are doing great business. Slack is a team communication app founded just nine months ago and it recently raised $120 million with a valuation of $1.2 billion. Yammer is an enterprise social network set up in 2008 and acquired by Microsoft in 2012 for $1.2 billion.
“Facebook at Work” will initially be offered for free and will not have any ads. Although this might change later when the service picks up in popularity and business. It is currently in testing phase and is being tested in a few companies. Actually, Facebook staff has been using such a site internally since quite a few years for working in collaboration. Based on this, they are developing the new product.