Rumor has it from a source working on a new Facebook project, that the software is being built for a phone and people are working with a third party to build the hardware of the phone to mesh together to create a brand new…Facebook phone! It was just shy of a year ago that news broke about Google working on their own phone, which was revealed as the Nexus One. A source recently stated that “it was about time that Facebook first became concerned about the increasing power of the iPhone and Android platforms, and Facebook apps for those phones may not be enough to counter a long term competitive threat.” Basically, Facebook wants to dig deeper into other core functions of the phone, such as the contacts list, but it will only be capable of doing that if it controls the operating system. Two high level Facebook employees, Joe Hewitt and Matthew Papakipos, both with lots of experience in operating systems, are rumored to be secretly working on the project, which is unknown even to most Facebook staff. So how did I find out about this “secretly unknown rumor?” From a website I like called CrunchBase. Now you may ask, what might this phone look like? This is still unknown; as is the announcement date. Will you dial your friends name rather than a phone number? Will you be able to pay your bill with Facebook credits? All good questions yet to be answered. All that is known is that Hewitt and Papakipos are working on something very stealthy together and according to that source, that stealthy thing is a Facebook phone.