The Facebook logo is shown at Facebook headquarters in Palo Alto
The Facebook logo is shown at Facebook headquarters in Palo Alto, California May 26, 2010. REUTERS

Facebook is scheduled to launch something awesome on Wednesday, but hasn't divulged what exactly it is. Speculation is circulating that Facebook will launch a new video chat product powered by Skype that works in browser.

Facebook sent out the press invitations on Friday with just a vague message Please join us for an event at Facebook on the invite.

According to a report on Techcrunch, a source within the company says that the social network giant 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.

The move comes just after Google last week half-launched its new Google+ Facebook competitor. The new social networking site by Google already contains a host of video features, the most impressive of which being its +Hangouts service.

Google+ is capable of multi-person live video chat and a host of changeable hangouts -- chatrooms that can be created and altered so only certain individuals can enter.

Already analysts have speculated that the alleged new deal between Facebook and Skype could be a reaction by Facebook to try and quickly add the features it's currently missing when compared to Google+.

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.

The partnership will be a win-win situation for both companies. But, this partnership if proven to be the actual cause of the announcement could have a serious impact on Skype in particular. Facebook has more than 750 million users; if Skype integrates into Facebook it could mean an explosion in Skype users. Facebook will get a massive leg-up if users will start using the social media site to chat via voice or video.