Updated from 2:42 p.m. to include comments from Jim Cramer.
The new functionality is a major step into the territory of Alphabet's Google (GOOGL) - Get Report (GOOG) - Get Report , which has long prioritized its own search results according to their timeliness.
The social media site's new search, called Search FYI, will personalize search suggestions and prioritize them for relevance. Its results will be a curated combination of posts from friends and public conversations. It will also highlight the posts that have sparked popular conversations and allow users to "check out an aggregate overview of sentiment," according to a company statement.
"To me the story with Facebook is the amazing ROI," said TheStreet'sJim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio. "Every CEO I know who uses them to advertise is getting it, starting with Domino's and Dine Equity who think the payback is fabulous."
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Shares of Facebook were rising higher on Thursday, gaining 1.7% to $98.84.
"When a link gets shared widely on Facebook, it often anchors an interesting public conversation. Now there's a new way to quickly dive into that discussion," Facebook VP of Search Tom Stocky said a statement.
The Menlo Park, Calif.-based company says this feature "is a first step" and is calling on users to provide feedback for further improvements.
The update, which is launching today, is reminiscent of Twitter's (TWTR) - Get Report new Moments tab, which aims to prioritize the site's content for users who feel overwhelmed by the speed and volume of tweets appearing in their feed. The move toward curated content based on individual subjects and hashtags represents an effort by social media to make their vast repositories of information more available to their users.
The algorithms that will do the curating will likely be another point of stress for Facebook's advertisers, who already have to contend with the opaque algorithms that determine what users see in their news feeds.
"Today, we're updating Facebook Search so that in addition to friends and family, you can find out what the world is saying about topics that matter to you," Stocky wrote.
Below is a video Facebook provided to explain how it will work: