Facebook Launches New Video Application – WSJ.com

Facebook Inc., the Palo Alto, Calif.,
social-networking startup, Thursday launched a new video application
that could compete with Google Inc.’s YouTube. Facebook’s 23 million users will be able to create and share videos directly from Facebook.

Facebook launched the feature at a San Francisco event
at which it unveiled a new strategy to let outside companies build
services inside the Facebook Web site. Those companies will be able to
generate revenue from those services by showing ads or selling goods
and services within special pages in Facebook, the company said.

From WSJ

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