Facebook Through Skype will launch Video Chat feature

Facebook to launch Hangout like feature with the help of Skype

Facebook founder and CEO Mark Zuckerberg recently promised that on July 6, Facebook would "launch something awesome" that the company's Seattle team developed. On Friday, Facebook distributed official invitations for a special event at its Paolo Alto headquarters on July 6.

Facebook's got something up its sleeve. But what?

TechCrunch claims to have an inside scoop that the social network has partnered with Skype to develop a video chat service, according to "a source with knowledge of the partnership."

Writes TechCrunch,

The product has been built on Skype and will include a desktop component. It’s not clear to me whether that means it will just work if a user has Skype already installed on the computer, or if additional software will need to be downloaded even if the user already uses Skype. But it’s clear that there’s very deep integration between the products, and from the user’s perspective, the product will be an in browser experience.

Google's newly launched social network (Google+) features a video chat feature (called Hangouts) that lets users chat one-on-one or in groups of up to 10.PCWorld predicts that the feature could grow into "serious competition" for Skype. Facebook currently does not offer a video chat feature.

The popular gaming company Zynga files for $1 billon IPO

[DealBook]:Zynga,  social network game developer behind hits such as Farmville — and the owner of other smash titles such as Words with Friends on Android and iPhone — has filed for an initial public offering (IPO), The New York Times reported on Friday. It currently has a $20 billion valuation and has plans to offer 10% of its shares; Morgan Stanley will work on the deal. Mark Pincus, the company’s CEO, expects that Zynga can earn $1 billion through the IPO. Unlike some other recent tech IPOs, which have caused many to claim the industry is in the midst of a “tech bubble,” Zynga has had solid earnings through its business model, which typically relies on in-app purchases for in-game currency. The firm reportedly recorded a profit of $90.6 million in 2011 on revenues of nearly $600 million. Zynga currently remains the top-dog when it comes to gaming on Facebook — it has 272.5 million active users across its biggest titles such as Cityville and Farmville.
Read:[DealBook]