Facebook, rumored for some time to be planning its own email service, may finally be on the verge of doing so in a move that would send a shot across the bow of Google, Yahoo! and Microsoft.
Sources believe that the social network plans to announce a Web-based email service complete with @facebook.com addresses at an event in San Francisco next week.

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According to Techcrunch, Facebook's planned Web-based email service is part of a secret project known as "Project Titan" that is "unofficially referred to internally as its 'Gmail killer.

Facebook boasts more than 500 million members around the world and offering a personal email service would lay down a powerful challenge to the established email giants -- Microsoft's Hotmail, Yahoo! Mail and Google's Gmail.

Why Facebook Email Service will be a killer:-

- It has a potential instant size.

- It has a natural advantage at making mail more useful by showing you the email you are actually interested in.

- Since Facebook knows how you interact with all your contacts, they would be able to perfectly separate what is important from what is not.