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Facebook aiming to take on Snapchat with a new photo and video sharing app

Mark Zuckerberg
Mark Zuckerberg
Silverisdead - Wikimedia Commons

After a $3 billion offer for Snapchat failed to land Mark Zuckerberg the popular video and picture sharing service, Facebook has been trying to come up with an app to rival the one that got away. A report emerging from the Financial Times today suggests that Mark Zuckerberg is personally spearheading efforts to build a competing 'ephemeral app' that will enable users to share both pictures, and videos with just a few taps of a screen. The new picture and video sharing app is known as "Slingshot" internally at Facebook, and it could be released to the public within a month.

This is not the first time that Zuckerberg and Facebook have tried to compete with Snapchat. In 2012 after a failed attempt to buy Snapchat, Facebook launched "Poke" and it failed spectacularly. Mark Zuckerberg has since labeled that attempt as a joke, and even told reporters that the app was written in just 12 hours, just to show that there was not much to the application, and that Snapchat should have taken him up on his $3 billion offer.

Slingshot apparently represents a much bigger attempt at taking on one of the biggest social apps in the mobile space. The new app has apparently been in development for months now, and Mark Zuckerberg has been personally overseeing the project every step of the way, which signifies just how important he believes Snapchat is.Whats the big deal with Snapchat? Snapchat really appeals to teenagers, and this is the one demographic that seems to be escaping the grasp of Facebook.

Facebook announced at the beginning of the year that they will be focusing on releasing some quality stand-a-lone apps throughout 2014, and they have already had a solid hit on their hands with the Paper app that was released a couple of months ago. There is no doubt that Mark Zuckerberg hates the fact that Snapchat slipped from his grasp, so making a new Snapchat competitor makes sense, but it remains to be seen if Facebook and Zuckerberg have waited too long to release a real rival to Snapchat. Perhaps the biggest question is, will it have the clout required to remove Snapchat from the top of the photo sharing tree? It will certainly have a tough battle on its hands.