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Facebook announces new Paper app for the iPhone

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A day after Facebook released its fourth quarter earnings report sending its stock price to an all time high, the world’s largest social media company announced it’s latest, standalone app – Paper.

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Available February 3 only for iPhone users, Paper allows users to “explore and share stories from friends and the world” around them, Facebook’s Paper is much like Palo Alto-based Flipboard, the popular app that allows users to “flip” through magazines and photos, in addition to audio and video.

The first product developed by Facebook Creative Labs, Paper is another indication Facebook plans to increase its presence on mobile devices, given the Menlo Park-based social media giant announced more than half of its advertising revenue from mobile advertising. However, the introduction of Paper comes nearly a year after Facebook launched its much maligned Facebook Home app for Android devices.

The new app will have a News Feed and the ability to add newsections, such as sports, photography and science. The user can tilt the iPhone to examiner high-res photos and view fullscreen videos and enjoy articles from "emerging voices" and "trusted publishers" to decide what to read.

During yesterday’s Q4 earnings report, Founder and CEO Mark Zuckerberg suggested the company will have a special emphasis on releasing more standalone apps to enhance user experience, saying “We’ve very pleased with the growth of our ad business on mobile. I expect 2014 will be the year when we begin to deliver new and engaging types of mobile experiences."

Facebook Paper is the first of these new mobile experiences. With Facebook experiencing a whopping 39 percent growth increase in mobile users from the previous year to 945 million and total members to 1.23 billion, it makes sense to focus on the potential added revenue from mobile advertising by releasing new apps to appeal to its mobile users well past its 10-year anniversary next week. If their revenue growth from the last quarter is any indication, Facebook's future looks very bright.

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