Google launched Wallet in 2011.

Yahoo Inc plans to spin off its 15 percent stake in China's Alibaba Group Holding Ltd, responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.

With 1.35 billion users of its Internet social network, Facebook Inc would rank as the world's second-most populous nation if it were a country.

The move marks a significant ramping up of one of Facebook's most closely watched new advertising products, which analysts believe could help the Internet company capture a bigger slice of lucrative brand advertising budgets.

Facebook, which announced the move in a post on its official blog on Wednesday, is working with streaming music services Spotify, Rdio and Deezer to offer the music previews.