Sources reveal that Facebook offered a total of $1 billion to acquire the new and trending, photo sharing app, Snapchat. The reports say that Snapchat’s CEO, Evan Spiegel turned down the offer.
It seems that lately Facebook is unsecured of maintaining its position as a social media giant. Last year, it had offered the same amount to Instagram, another photo sharing app. Facebook has been trying to incorporate many new features into the platform that sound largely as functions similar to those that exist in one or the other platform. It launched the feature of “poke” which like Snapchat allows user to send photos which would disappear after a certain amount of time is largely.
via SocialAppsHQ Blog http://www.socialappshq.com/blog/2013/10/28/facebooks-1-billion-offer-to-snapchat/
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