Yahoo is expected to unveil a new cross-platform messaging service at an event in New York City later today. The app will be focused on mobile, and is likely to take on the likes of WhatsApp, Facebook Messenger, and LINE.

"While it's not clear what that product might be, sources said it was mobile in focus," reports Recode's Kara Swisher. It was initially believed that the app could be "a redo of [Yahoo's] Tumblr or Flickr app," perhaps to compete with Google's new video editing tools for YouTube.

However, Swisher later posted an update on Twitter that suggests the announcement is "likely a messaging app."

Yahoo already offers Yahoo Messenger on both desktop and mobile platforms, but it has become somewhat stagnant as services like WhatsApp, iMessage, Viber, and others have grown. Now it's thought Yahoo wants to take on those services with a brand new app.

Since CEO Marissa Mayer took over, Yahoo has acquired a bunch of companies in an effort to better compete with its rivals. It has spent billions buying out Tumblr, Flurry, and Summly — as well as mobile messaging services like LittleInc and Blink, which could become part of its new app.