Facebook Inc (FB): The Google Inc (GOOG) Reader Replacement?

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Facebook Inc (NASDAQ:FB) has certainly made little doubt that it has been working to compete directly with Google Inc (NASDAQ:GOOG) in as many areas as possible – if not just flat-out copy in those areas. Facebook has made some inroads with its strategy, though, posting some solid advertising revenue with a Google-like ad exchange, it has developed its new Graph Search feature to search for information on Facebook that likely won’t be found by Google Search, and it has been working on other similar projects like streaming live TV programs (this was in the U.K.).

Well now, Google Inc (NASDAQ:GOOG) is due to end its Google Reader RSS feed in July. There have been some out there who are lamenting the loss of the Reader, but there are others who have gotten over the shock and disappointment who are now asking, “Where will be go now for our news fix?”

The timing of this latest rumor seems perfect to begin the question: was Google Reader going down because of some competition, or is this an opportunity for  another company to step into the void left when Google Reader says sayonara for the final time?

Facebook Inc. (FB)Word is that Facebook Inc (NASDAQ:FB) has been or is working on a possible RSS newsfeed function, according to a web developer who has seen some of Facebook’s recent code.  Of course we are not sure whether Facebook Inc (NASDAQ:FB) had been working on this while Reader was in effect and being supported, or whether the RSS code began to show up as Google Inc (NASDAQ:GOOG) announced its plans earlier this year to dump Google Reader.

However, we also don’t really know what this RSS feed would look like; will it be just “news” on Facebook itself – with information about posts and comments from friends and maybe items of interest from businesses or groups you liked – or would it be a news feed similar to Reader, culling news and information of interest from all over the Web?

All we know is this comment from developer Tom Waddington: “What’s surprising is that the (Facebook) code mentions RSS specifically and distinctly from existing interest lists and friend lists. I’ve tried to access RSS feeds through the API, but it’s currently locked down and only available to whitelisted apps.”

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