Facebook's Big Announcement

Editor's Note: Facebook unveiled a new social search feature called Graph Search Tuesday that will allow users to search their friends' content on the Facebook platform.

The new feature is not a global web search engine like Google, that will allow users to search Facebook's social graph. However, users can only search content that has already been shared with them.

Check out Facebook.com/graphsearch

Below is how the announcement rolled out in real time in this Live Blog. The most recent information is at the top.

2:15 PM/ET Graph Search: the next step in Zuckerberg's plan to make Facebook more valuable to users and make its network the filter for accessing the world.

The biggest problem here is that it's not yet mobile and Facebook's not being aggressive about rolling out ads.

And with that, the event is over.

Source: Facebook.com

Facebook launches the new Graph Search icon.

2:12 PM/ET: Mike Isaac from All Things Digital asks if Facebook is relying on "Likes" or will branch out to use Foursquare checkins for Places search results?

Lookout Yelp!

Zuck says, "We recently started asking people who check in to a place to recommend or rate the place... By doing that we're just enabling a massive number of people to recommend restaurants..."

Zuckerberg adds that for Nearby they realized they were going to need ratings... there are so many people on Facebook you can get a good indication fairly quickly.

2:08 PM/ET: When asked again about Facebook's relationship with Google, Zuckerberg smiled, paused and said, "I'm trying to think whether it's reasonable to get into this...Microsoft was more willing to do things that are specific to FB..."

The biggest stumbling block according to Zuck?

Google and Facebook could not agree on how much flexibility users should have to tweak posts after the fact.

Noah Berger | Bloomberg | Getty Images

Mark Zuckerberg, chief executive officer and founder of Facebook, at its headquarters in Menlo Park, Calif.

2:04 PM/ET: When asked by a reporter if he even CONSIDERED working with Google, Mark Zuckerberg chuckled, as well as the audience, and said, "You know, I would love to work with Google... We want to make search social in general.. We haven't been able to work that out yet."