Facebook status update — it’s building a work version

Facebook is remaining hush-hush on reported plans to develop a workplace version to compete for a share in the corporate social networking market.

The planned new product ‘Facebook at Work’ will allow users to chat with colleagues, connect with professional contacts and collaborate over documents.

The work-related product will build on the company’s success as the world’s most popular social media platform, using Facebook’s traditional tools such as news feed, messaging and group discussions.