Facebook gives first look at its promised overhaul

REUTERS: Facebook Inc on Tuesday debuted an overhaul of its core social network and introduced new business-focused tools, the first concrete steps in its plan to refashion itself into a private messaging and e-commerce company.

Zuckerberg identified private messaging, ephemeral stories and small groups as the fastest-growing areas of online communication. The social media company is also working on"LightSpeed" in order to make its Messenger app smaller in size and faster. But Facebook is no longer adding many new users in the United States and Europe, its most lucrative markets, and it must find additional sources of revenue if it is to sustain growth.

One such tool will allow users to watch videos together in Messenger, while also viewing each other's reactions in simultaneous texts and video chats.

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