From Business Insider
Facebook is suddenly obsessed with the news business.
The news business, in return, should be both grateful and afraid. Grateful for the extra readers Facebook is creating for their content, but afraid that in the long term, Facebook has the ability to extract a price for that traffic.
Facebook is about to launch a news app called “Paper,” that will reportedly look a bit like Flipboard. Facebook vp of product Chris Cox — one of the top execs in the company — reportedly dislikes sites like Buzzfeed, which carry a lot of useless, trivial “news.” And the company has revamped its News Feed to play down pictures of cute cats and babies and to emphasize useful, relevant news.
The results have been dramatic: Facebook is now second only to Google in traffic referrals to other sites, putting Reddit in the shade in terms of share of referral traffic. Facebook has “almost tripled” the amount of traffic it sends to news sites over the last year.
But why is CEO Mark Zuckerberg bothering?