Facebook is having a special invite-only event on Monday, and the invitation has spark speculations all over the Internet that Facebook might launch their own email service at this event.

The event invitation as you can see below has the Facebook inbox icon.

There was news back in February that Facebook is building its own email service dubbed “Project Titan,” an email client that will rival Google’s Gmail.

Moreover, the recent clash between the two internet giants over user’s contacts has only heightened the speculations.

The event is on Monday, but along with the speculations, tech writers and experts have already started debating whether people need another email client or in particular Facebook’s email service in their lives – either for personal use or business use.

But, until Monday, we just have to keep our fingers crossed and wait.

The latest updates made by Facebook such as the new layouts, improved photo uploader, features like game dashboard has left many people excited, and majority of the users are still waiting for the update to come to them. Though all this new excitement haven’t sank yet, we would like to pass on another big news, actually a  rumor to you.

According to TechCrunch, Facebook is planning of rolling out yet another big change. Facebook is said to be completely rewriting their messaging product behind the scenes and is preparing to launch a fully featured webmail client and the product is internally known as Project Titan.

Though the move is a big one, this doesn’t comes entirely as a surprise. The current Facebook messaging system have seen some improvements over the years, but it hasn’t been a fan favourite.

So, the move can be called as a fullfillment of a long-awaited feature from a site like Facebook who has now touched 400 million users.

It may also be noted that, MySpace has already launched its email service last year replacing it’s internal messaging system, though with moderate success. But, unlike MySpace’s implementation, Facebook’s email service is expected to have full support for POP and IMAP, making it possible for the users to access their email accounts from desktop or mobile clients. As for the address, it is said to be based on a user’s chosen vanity URL nickname, something like vanityurl@facebook.com

“Tacking a real webmail product on top of those vanity URLs and Facebook connect is something even Google may shudder at. Gmail killer? I don’t think so. But a strong product move nonetheless,” says the blog writer Arrington.

[Source: TechCrunch]