If you can’t buy them, destroy them. Facebook is in the works of creating a new application that will Rival that of Snapchat. In 2013 Facebook offered the owners of Snapchat a $3billion acquisition price tag, which Snapchat rejected hoping to capitalize later in 2014 with a larger offer. A move that Snapchat may in the end regret with recent allegations of terrible privacy practices, ranking last on the recent EEF’s Privacy Protecting List. This gives Facebook a good intro into a market in which it was slowly losing out against Snapchat which commands an estimated 9% of adult cell phone users.
The new application from Facebook may be introduced as early as this months end, and will feature photo and video sharing that will “disappear” after being viewed. This notion of disappearing will be taken very seriously by Facebook as it does not wish to find itself in the same loophole that Snapchat has created for themselves. Facebooks push into regaining full mobile dominance became apparent with the acquisition of Whatsapp, the messaging application. Capitalizing on Snapchats recent privacy and potential legal woes, could prove to be a boon for the company, saving them 3 billion dollars and taking over the market individually.
There is no official release date for the application at the time of writing.