Facebook's 'big idea' event: Join us Thursday (live blog)

Editor's note: At its event today, Facebook announced that Instagram is getting video. Also, Instagram CEO Kevin Systrom noted that the service is up to 130 million users.

Facebook unveils its next "big idea" on Thursday, and CNET will bring you all the news with live commentary and photos.

The social network was as mysterious as ever when it snail-mailed printed, coffee-stained invitations to the press last week, inviting journalists to "join us for coffee and learn about a new product." The invite, which was followed by a e-mailed link to an invite-only RSVP splash page, teased, "A small team has been working on something big."

Facebook's event starts at 10 a.m. PT, and you can follow along on CNET's live blog here:

CNET's live coverage of Facebook's "big idea" press event

The paper invite, so soon after Facebook finally adding hastags to its network, sparked reports that Facebook could be launching a news RSS reader or video capability on Instagram.

Facebook CEO Mark Zuckerberg does enjoys calling Facebook's news feed, a "personalized newspaper," and an RSS reader would be a timely addition considering Google is killing its reader on July 1. But, a move from the Instagram crew is more likely.

Aside from some semantic hints from cryptic invite (Instagram's jobs page reads "We're a small team, and we're looking for people to make a big impact."), Facebook has been more interested in playing catch up to Twitter than taking down Google. Twitter's Vine video app has made quite the splash. While it hasn't grow as fast as Instagram did, it has convinced celebrities and marketers that short, looping video clips are the next big thing.

Of course, Facebook could do something entirely different. In the past, similar events unveiled products like Graph Search and Home for Android. Tune in Thursday to find out.

Editors' note: This story was originally posted June 19 at 9:45 a.m. PT.