Creates Collections to compete with Snapchat

Facebook is working on a new feature that will showcase lists of curated content from publishers directly in the News Feed, according to two people familiar with the project and internal documentation seen by Business Insider.

The feature is called Collections and functions similarly to Snapchat’s Discover section, which showcases news stories, listicles, videos, and other content submitted by handpicked media partners.

Facebook has approached media and entertainment companies in recent weeks to create content for Collections, but has not given a time frame for when the feature will be made available.

What it means:
Facebook is seeking to breathe new life into its platform. With FB Live and now Collections, the platform is making investments to compete with competitors that are acquiring larger share of active daily users. Collections is important for brands. Historically, the only way to reach users on the platform was organically or through sponsored posts. Collections provides content syndication across the massive install base of Facebook, directly in the news feed, allowing for much broader reach.