Facebook has already spent $1 billion to acquire Instagram and it looked like Snapchat was next on their target list. The social network reportedly offered $3 billion to acquire Snapchat, but the people at Snapchat said no. That’s bold.
With Facebook’s acquisition of Instagram earlier this year, it is well known they have great interest in mobile apps. With that in mind, Facebook is now said to be working on a new app. This mobile app, set to be released in a couple of weeks, is supposed to be similar to that of Snapchat.