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MANILA, Philippines — If you can’t buy em, create a competing product.
Easier said than done. But fresh after its failed $3-billion takeover of Snapchat last year, Facebook is determined to dominate the ephemeral messaging market.
A source with the Financial Times reports, the world’s largest social network is working on another app to rival SnapChat, internally referred to as Slingshot. None other than Facebook Founder and CEO Mark Zuckerberg is said to be overseeing the top-secret project.
But the same source cautions, while Slingshot could launch as early as this month, Facebook could still pull the plug on the project. If it does release the new app however, it will be take two for Facebook.
This May it pulled its SnapChat-clone Poke from the iTunes app store after the app failed to gain any traction. The app, launched in December 2012 was built on the same principles as SnapChat with photos and videos disappearing a few seconds after they are received.
The messaging space is one where Facebook has flexed its financial muscle acquiring Instagram for a billion dollars in 2012 and WhatsApp Messenger for $14.6-billion in 2013. – Rappler.com
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