Social networking site Facebook will launch something "awesome" next week, company CEO and founder Mark Zuckerberg has revealed.

Reuters reported that Facebook may add a new feature in either the mobile or tablet segment.

The report said that Zuckerberg told reporters in a visit to Facebook’s Seattle office his company plans to "launch something awesome" next week.

Zuckerberg added that the project had been developed at the 40-person Seattle office.

This week, search engine company Google launched its own social networking service called Google+.

Having lost the market share in 2008, this is Google’s most ambitious foray into social networking again.

Google hopes to compete with market leader Facebook with its privacy features. Google+ offers users to have ‘Circles’ to avoid people in one ‘circle’ to see the posts of another ‘circle’.