The new website, that will look very much like Facebook, will compete with professional social network LinkedIn, Google, and Microsoft, the newspaper said.
Facebook's new site will allow users to chat with colleagues, connect with professional contacts and collaborate over documents, the newspaper reported, citing unidentified sources.
Facebook was not available for comment outside regular U.S. business hours.
Facebook employees have long used the site in their daily work and the social networking site is now testing it with companies, the newspaper said.
The social networking giant last week silently rolled out the new 'Facebook Places' directory that lets users search for different places around the world.
Now, from the Facebook Places page, users will be able to search for places around a specific destination from different categories like restaurants, hotels, bars, cafes, attractions, arts & entertainment, gyms, movie theatres, schools, landmarks and more.
The Facebook Places search results are ranked by user ratings and shows comments from friends and others in user's network. The page also list places under different countries subhead below "Explore other places" section. Users will also find a Bing-powered "Cities Nearby" option at the bottom of a specific destination search page.
According to reports, the new Places directory result integrates Facebook's Graph Search, Locations API and other elements. Facebook hasn't made any official announcement about Places yet.
Written with inputs from Reuters
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