LinkedIn Shares Down Amid 'Facebook At Work' Reports

Facebook Inc (NASDAQ: FB) last week introduced Places, a new feature that could rival Yelp.

On Monday, various media sources reported that Facebook is working on a new website named Facebook At Work, a site that could potentially compete against LinkedIn Corp (NYSE: LNKD).

Facebook appears ready to leverage its billion plus user base to develop a new product that allow members to connect with professional contacts and collaborate over documents. By comparison, LinkedIn's user base has 90 million active monthly users.

The Financial Times reported that Facebook At Work will also offer products and services that would compete against Google's drive, email and chat products as well as Microsoft's Outlook email service, Office software, and Yammer, a social networking site Microsoft acquired in 2012 for $1.2 billion.

Shares of LinkedIn were trading lower by 2 percent at $229.25 in Monday's pre-market session.