TL;DR
Snapchat is trying to compete with Facebook as a social media platform, despite Facebook's large worth of over $340 billion. Facebook offered Snapchat $3 billion for the app in 2012, but Snapchat declined.
Facebook, now worth over $340 billion, is at the top of the largest platform ever, social media. While only a few companies, like Google, Amazon and apple have been serious rivals to Facebook, Snapchat is wanting to become part of the discussion, reports Mashable.
From similar origins, both social media platforms were created by young, relatively unknown individuals, and sparked rapid growth among a young audience.
In 2012, Facebook offered Snapchat $3 billion for the app, and Snapchat, who only had six employees at the time, said nope! Now, in 2016, Instagram (owned by Facebook) is rolling out almost identical features to those on Snapchat.
Whether Snapchat is ever to overcome Facebook is unknown at this point. But one things clear: it’s going to be really interesting to watch.
In this story
This story was originally published in 1851 Franchise on November 22, 2016. Burnaze summarizes and links to the original reporting.
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