Facebook Inc. on Tuesday introduced a search tool for its social network of more than 1 billion users, seeking to improve features to attract more users and advertisers.

The new graph-search feature, which lets users hunt for information related to their social network, doesn’t look for Web-based content, Chief Executive Officer Mark Zuckerberg said at an event at the company’s Menlo Park, California, headquarters.

Privacy is an integral part of the new service, he said.

Facebook was little changed at $31.10 at 1:16 p.m. in New York. Google Inc. rose after Facebook said that the new product wouldn’t search the Web.

Recent news on advertising growth potential as well as hype ahead of today’s event have given a boost to Facebook (Nasdaq: FB) shares.

In trading Monday, Facebook closed at $30.95, and in pre-market trading Tuesday shares advanced another 40 cents.

As far as search goes, users would likely welcome a better way to sift through Facebook for people, businesses, events and everything else available on the vast online network.

The company, whose much-ballyhooed initial public offering turned out to be a disappointment, may also talk about new advertising features. Facebook has been especially focused on building up is mobile advertising business, since most of its users access Facebook through smartphones and tablets.

Research firm eMarketer estimates that Facebook, the No. 2 company in the U.S. mobile advertising market, had an 8.8 percent share last year —up from zero in 2011. That compared with No. 1 Google’s 56.6 percent. This year, Facebook is expected to grow its share to 12.2 percent, while remaining far behind Google.

Facebook, which has been calling itself a “mobile-first” company, has been growing thanks to increased use of its mobile apps, improving ad quality and its emerging advertising network, called Facebook Exchange, said Baird analyst Colin Sebastian in a recent note to investors.

“Our field checks suggest that the recently launched Facebook Exchange is helping advertisers target consumers more effectively,” he said.

Sebastian thinks that over time, Facebook will make more money from mobile ads, helped by its increasing experience in the space, as well as its “ever-increasing user profile data.”Facebook Inc. is climbing back from a stock plunge last year that made it one of the worst performing technology initial public offerings of 2012.

The shares set a six-month high Friday, advancing 1.3 percent to $31.72 in New York. As concerns ease over the social network’s ability to boost revenue, the stock has rebounded 79 percent from a record low in September.

A proposal letting advertisers display user names and images in marketing materials was scrapped last month. Many people threatened to leave Instagram before the plans were to take effect on Jan. 16.

Facebook will announce fourth-quarter financial results on Jan. 30.

 (The AP and Bloomberg contributed to this report.)