Facebook Paper
Facebook Paper is a standalone mobile app created by Facebook, only for iOS, that intends to serve as a phone-based equivalent of a newspaper or magazine. The app was announced by Facebook on January 30, 2014, and released for iOS on February 3, 2014. The iPhone app appears in the iOS App Store as "Paper – stories from Facebook"; there is no iPad version.
Broader framework
Along with announcing the release of Facebook Paper, Facebook also announced Facebook Creative Labs, an intra-company effort to have separate teams working on separate mobile apps that specialize in different facets related to the Facebook experience, rather than trying to make changes to Facebook's main web version, mobile version, or its main iOS and Android apps. Facebook Paper was the first product of Facebook Creative Labs. Later on more apps were launched: Slingshot, Mentions, Rooms, Facebook Groups, Riff, Hello and Moments.
Features
Some of the (claimed) features of Facebook Paper, that distinguishes it from Facebook's past efforts and its other apps, are listed below: