Facebook seems about to launch "Paper", a Flipboard like news reading app.

After years of experimentation, cancellations and redesigns, Facebook looks like it is finally going to launch in the coming weeks a news reading service built for mobile devices.

The product is known as “Paper,” according to a source familiar with the matter, and it is similar to Flipboard, a buzzy mobile-focused news reading app. Paper looks to be either a standalone mobile application or a Web experience suited to mobile devices, according to this person. Facebook could launch the app before the end of January, this person said, though the timetable could change.

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