After failing to acquire Snapchat, Facebook reportedly building its own

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The current rumor is that Facebook is not happy that it failed to buy video and picture messaging app Snapchat last year, despite a $3 billion reported offer. Seeing the writing on the wall, it seems, the social networking giant is instead working on its own internally-built competitor to Snapchat. If these rumors are true, along with the supposed internal name “Slingshot” for the app, then it may be what changes FB forever.

The earlier attempt Facebook had at a Snapchat-like app was Poke, which has had various iterations on FB under that name and which has failed to gain popularity every time. It was discontinued just a couple of weeks ago in its latest failed attempt.

According to rumors and supposed leaked reports, Facebook has been building this new Slingshot app for months and may release it sooner rather than later. The rumors are that Zuckerberg is personally involved in the project and considers it a top priority.

Given that Facebook has promised high-quality, simple apps that stand alone from the FB mobile app, the idea of Slingshot may not be far off. Creative Labs, the internal app-making group at Facebook, is capable of creating some great work, as witnessed by Paper, the groups current top app.

Snapchat is popular with teens and with the teenage market being a slippery group for Facebook to keep a hold on, a competitor with more social integration may be the reason the social giant is so keen on making one. It certainly provides motivation to Zuckerberg and crew.

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