Facebook Rumor: FB to Take on Snapchat With New Slingshot App

The new app may be released this month

   

Facebook Rumor: FB to Take on Snapchat With New Slingshot App

Facebook (FB) is planning to take on Snapchat with a new rival app called Slingshot.

Facebook185 Facebook Rumor: FB to Take on Snapchat With New Slingshot AppSlingshot will allow users to send videos and photo to each other that will be deleted after they have been viewed. This is similar to Snapchat, which recently added the ability to send videos. A source close to the matter claims that Facebook CEO Mark Zuckerberg has been overseeing the app’s creation and that it may launch this month, reports Computerworld.

This will be Facebook’s second attempt to launch an app that could directly compete with Snapchat. The first attempt, called Poke, failed to catch on and was shutdown this month. The social media website tried to buy Snapchat for $3 billion last year, but the offer was turned down, Computerworld notes.

Now might be the perfect time for Facebook to launch a rival to Snapchat. The image sharing app has come under fire from the Federal Trade Commission (FTC) for collecting information without telling people. As a result, the company has to run a privacy program that will last for 20 years and be monitored by an outside source.

FB shares were up 1% as of Monday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/facebook-fb-snapchat-slingshot/.

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