Watch the Facebook event live

Facebook will make a major announcement Thursday morning about a new addition to its service and viewers will be able to watch the event live on the Web.

The event will start at 10 a.m.

As with previous press announcements, the company plans to stream the presentation live.

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The latest reports say Facebook may announce the addition of video for Instagram, the company's photo-sharing app. If so, Facebook will be playing catch-up with Twitter, which released the popular six-second video app Vine in January.

Other reports suggest Facebook may announce an RSS reader. The popular Google Reader service is set to shut down July 1, so the timing would make sense.

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