Is Facebook building a search engine to rival Google?

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A special event at the Facebook HQ to be helf later this evening is driving speculation that the social network is going to release to a Google Search killer and bring out its own social networked search engine. There is much speculation about what the event will release, but many think that it will be search rather than a Facebook phone.

Facebook Major Event

Facebook is due to announce a major event this evening on the 15th Jan which will see it attempt to make up some of its lost ground since the tech giant floated last year to much fanfare but poor performance on the stock market. The tech giant floated at a price of around $40 but then fell to almost half that before regaining to $30.

Today in anticipation Google shares (GOOG) are down on the event and FB futures have risen in expectation by ~1.5% before the market opens. It looks like the market could punish Google if Facebook decides that it can curve out a greater slice of its a market and could potentially make history as the first nail in the coffin of the tech Giant: Google. Google relies around 97%+ on its advertising for its revenue.

Facebook phone or Facebook Search

My money is on the latter and colleagues in the UK have said they have seen anomalies in their pages being indexed by some who think its a FB engine spidering their pages just as the Google search spiders and indexes new pages and links.

Building a phone would make little sense in this market. The market wants to see FB making more money from advertising. The phone can wait, right now, FB must find a way of getting more views on whatever platform rather than going off and building a platform and finding that users continue to use Google on their Facebook phones. So it makes sense to build the search engine before the phone – not putting the cart before the horse.