It has just been few days when Google shut down its famous Reader service and left many of its fans disappointed. Facebook took a notice of the same and saw a potential of generating a new revenue stream and hence starts working on a News reader service for its mobile users. However, as per Facebook it is not because of the facts that Google reader shuts down but they have already been working on this product for over an year now to add to its mobile offering.
Reportedly, Facebook has reached at a reasonably good level in generating revenue out of its mobile offering which was initial zero at the time of Facebook IPO. At this moment, mobile contributes as much as 30% to its revenue, hence the reason for launching more offerings like News Readers for its mobile users so as it keep users more hooked to mobile all the time.