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Facebook is building a meme hub called LOL to attract teens

The social network says the concept is still in the early stages.

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Facebook hopes to attract youth with a hub for memes called LOL.

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Facebook is trying to attract more teens to the social network with a new video product that could tickle their funny bones.

The world's largest social network is building and testing a hub for humorous meme content called LOL, according to a report from TechCrunch on Friday. 

A Facebook spokesperson confirmed the company is experimenting with the idea. 

"We are running a small scale test and the concept is in the early stages right now," the spokesperson said in a statement.

Facebook does own Instagram, a photo-sharing app popular among teens. Still, it's struggled to keep its younger users as they flock to Snapchat. Facebook copied one of Snapchat's marquee features when it launched Stories, which lets users share photos and videos that vanish in 24 hours. Last year, the company also targeted teens by launching a short-form video app called Lasso, but the app hasn't gained much traction. 

TechCrunch, which viewed some of the designs for LOL, said the hub is divided into categories such as "For You," "Animals," "Fails" and "Pranks." About 100 high school students are testing the product, according to TechCrunch. Facebook hasn't decided yet if LOL will become a standalone app or be folded in as a feature in the main Facebook app.

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