Facebook is partnering with Skype in launcing a new product that in the words of CEO Mark Zuckerberg is awesome, according to a report from TechCrunch.

Facebook sent out invitations today for a July 6 media event where it will reveal more details about the product.

TechCrunch reported Friday that a source says Facebook will launch a new video chat product powered by Skype that works in browser.

The product has reportedly been built by Skype and will include a desktop component.

Facebook and Skype have been working together previously in a more limited capacity, integrating various Facebook features into Skype's program, but this could be a big step forward for Facebook and Skype, launching an integrated product with Skype video chat within the Facebook browser. It's unclear whether additional software like Skype's program will have to be downloaded, but indications are that it will not.

Google is currently testing its Google+ social media program and video chat with grouping features is among those receiving the most chatter among users in the field test stage.