Social networking giant, Facebook has said that it is planning expand its presence in the gaming market by transforming itself from a gaming platform to playing a role of a promoter and publisher.

The world's largest social networking company has launched a new pilot program called, Mobile Games Publishing, which will allow it to promote small- and medium-sized games and take a share in tis revenues. The company is planning to tap into its 800-plus million monthly mobile app users to promote these games with support.

"We are invested in the success of these games, and in exchange for a revenue share, we will be collaborating deeply with developers in our program by helping them attract high-quality, long-term players for their games," Facebook said in a blog post.

The company has also announced the first 10 developer participants in the program including 5th Planet, Brainbow, Certain Affinity, Dragonplay, Gameloft, Gamevil, KiwiGames, Outplay Entertainment, Space Ape and WeMade Entertainment. The move will allow the company to expand its revenue base and cater to the growing gaming market.

The shares of the company rose 5.6 per cent to $37.43, almost recovering to the company's IPO price of $38 as investors believed that the company will be able to expand its revenues.