rtmark
LearnBonds.com

Facebook Inc. (FB) is Suffering From a Bad Case of Snapchat Envy

Facebook Inc (NASDAQ:FB) Mark Zuckerberg

Facebook Inc failed in its bid to buy  Snapchat in an all-cash $3B deal three years ago. Since then, the firm has been looking for ways to kill Snapchat or at least water down Snapchat’s appeal. the firm has also made some moves to clone Snapchat or eliminate the threat that it poses to the world’s biggest social media platform. Now, Zuckerberg is out with a camera-centric feature designed to reduce the allure of Snapchat and keep people engaged on Facebook.

Snapchat has proved resilient in the face of increased rivalry from Facebook. Snapchat has remained popular with the younger audience who find it easier to shoot and share pictures or videos instead of the uninspiring text box on Facebook’s status bar. In fact, Snapchat is preparing for a 2017 IPO as it prepares to join the big league by raising money from the public markets. This piece explores how Facebook is desperate to water down Snapchat’s influence in the social media sphere.

Facebook Inc. (NASDAQ:FB)

Meet Facebook’s camera-centric Snapchat rival

Facebook Inc has unveiled a pilot program to make the camera an important part of status updates in order to encourage users to share more photos and videos. The new feature is equipped with Snapchat-like photo and video filters so that users are explore their creative sides. More so, the new feature allows users to share the content with people in their News Feed or with a specific audience through a direct message.

The new Snapchat-like feature that Facebook started testing in Ireland last Friday is built around the camera. The camera also has a suite of special effects such as frames and masks. The content will also disappear in 24 hours if people are not talking about it in a nod to Snapchat’s self-destruct feature. Facebook has started testing out the Camera feature during the Summer Olympics in Brazil. During the test, people using the site in Brazil could use AR to paint flags on their cheeks or etch a temporary tattoo.

Interestingly, executives believe that the world is moving away from text to videos and photos. Zuckerberg notes that the world is moving to a “video first” content strategy. He says, “Ten years ago, most of what we shared and consumed online was text. Now it’s photos. And soon, most of it will be videos… We see a world that is video first, with video at the heart of all of our apps and services.” Product exec Chris Cox says the end game is AR “It’s an area of work we’re really invested in, which is making it easy for the camera to be an early application of AR.”

Here’s why Facebook must clone or kill Snapchat?

Facebook Inc has a compelling reason to get into the video updates business in order to stay relevant with advertisers. In the last one year, Zuckerberg has had to grapple with a slowdown in the sharing of original personal content on its platform. Users reportedly shared less videos, pictures, and status updates from their friends. Rather, users were mostly sharing news, articles, and stuff from other third-party sites.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.