The company launched Workplace last October with an eye toward office interaction, offering most all of the features of Facebook but separate from personal accounts. It's competing with Slack as well as Microsoft's (MSFT +0.7%) Teams product.
The free version, now "Workplace Standard," will look and feel the same as the paid version ("Workplace Premium") but without administrative and analytical tools.
A free version may draw more cost-sensitive businesses, particularly those in emerging markets, onto Facebook's platform.
Facebook shares are up to an all-time high of $143.43.
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