Facebook is set to launch its own iPhone photo-sharing service that will compete with the likes of Instagram and Path. Tech Crunch has obtained 50MB worth of data about Facebook’s project, including documents and actual images of the work in progress. The service is being called “WithPeople” or “Hovertown” internally, and it’s possible that it will be launched as a built-in feature to Facebook’s existing iPhone app or as a separate application entirely. Judging from the leaked image, we definitely see a resemblance to Path, particularly with the layout of the image previews. It certainly looks like a faster and more interactive way to view your friend’s Facebook photos though, so we’re excited to hear more about this project.