Facebook Inc.’s share price up, develops a new professional service “Facebook at Work” to set foot at companies’ offices

The largest social network in the world – Facebook Inc. – was reported to have been secretly working on a new project called “Facebook at Work”. The new website of the company is a step that is supposed to provide it with the opportunity to set foot at companies offices.

The new product is to allow its users to chat with their colleagues. Other option provided by the companys project will provide them with the opportunity to connect and interact with their professional contacts and work in collaboration over documents. According to people close to the situation, “Facebook at Work” may become a rival of Google Drive and Microsoft Office.

In October Facebook revealed that its quarterly profit nearly doubled and reached $802 million (€640 million). As reported by the Economic Times, the Chief Executive Officer of the company, Mark Zuckerberg, said in a statement after presenting Facebooks quarterly results: “We are going to continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms. We have a long journey ahead.”

Most companies use e-mail, chat and various collaboration tools, which are currently offered by Facebooks competitors. On the other hand, logging in personal Facebook accounts is prohibited to most companies employees.

The new service of the social network is expected to offer an interface, which is quite similar to the one of the website, but will allow the subscribers to separate their private and professional life. Facebook will have the hard task to win the trust and approval of corporate customers. In addition, it will have to give guarantees that information and sensitive data will be protected in a way that will not allow it to leak into competitors hands.

Facebook Inc. was 0.85% up to close at $74.88 per share on Friday, marking a one-year increase of 37.02%. The company is valued at $208.75 billion. The companys shares traded at €59.720 in Frankfurt as of 8:30 GMT. According to CNN Money, the 42 analysts offering 12-month price forecasts for Facebook Inc. have a median target of $88.00, with a high estimate of $103.00 and a low estimate of $60.00. The median estimate represents a +17.52% increase from the last price of $74.88.