Facebook To Launch News App 'Notify' Next week

Social media giant Facebook Inc is gearing up to enter news app market with a new standalone app called Notify, according to a recent report from The Financial Times. It will reportedly launch next week, with contents from a range of print, digital and video companies, such as Vogue, CNN, the Washington Post, CBS and Mashable.

Facebook recently rolled out Instant Articles to all iPhone users, which embeds stories in its mobile app. It received positive response from both publishers and readers. With Notify, the company seems to be taking the next obvious step to offer latest news to its users.

On Wednesday, it released financial results for the quarter ended September 30, 2015. The social networking giant’s Q3 earnings rose by 11 percent, along with a significant increase in revenue from advertising, The Wall Street Journal reported.

“Mobile advertising revenue represented approximately 78% of advertising revenue for the third quarter of 2015, up from 66% of advertising revenue in the third quarter of 2014”, the report noted.

Facebook will definitely heat-up the competition in the news app market with Notify. Other prominent names include Apple News, Yahoo News Digest, Snapchat Discover and many others, Venture Beat reported.