An offer made by Facebook to acquire Snapchat was recently
turned down by the CEO Evan Spiegel according to WSJ. This move by Facebook
signifies the ongoing war to survive. Social media users have been shifting
from text to images and pictures. Users prefer to share photos and this trend
has seen major acquisitions such as Waze which was acquired by Google,
Instagram which was acquired by Facebook and Snapchat which is proving elusive
to the giants. Facebook released their own version of photo-sharing application
named poke last year to keep the younger demographic engaged.
Why would Facebook want to acquire Snapchat
Probably the motivation of this move stems from claims made
by Snapchat that 350 million photo chats are sent by its users daily. This
presents an opportunity for heavy revenue generation for Facebook.
The younger users are now shifting their interest from
blogging to photo sharing. This makes photo sharing apps like Snapchat a
worthwhile venture.
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