Facebook Inc (NASDAQ:FB) is trying real hard to diminish the popularity of SnapChat. Earlier this year, the company came with its content sharing app ‘Slingshot’ that worked on a give and take model, such that users needed to upload their own content before they could view the posts from their friends.  Slingshot failed to capture users’ attention and Facebook Inc (NASDAQ:FB) is now back to square one in its mission of dethroning Snapchat. Facebook Inc (NASDAQ:FB) is now planning to launch the same feature that made Snapchat such a hit. Fox Business’ Liz MacDonald recently reported on the new feature from Facebook Inc (NASDAQ:FB) that could possibly topple Snapchat.


“Remember when Facebook wanted to buy Snapchat for $3 billion in cash. Well, now Facebook taking a page right out of what Snapchat does and is now test driving a service that would basically let you delete your post after maybe an hour, for up to a week […],” MacDonald said.

MacDonald then proceeded to display how this feature will look like. According to her, Facebook Inc (NASDAQ:FB) is currently testing this feature on a limited number of users and based on whether they find it worthwhile and appealing, it can launch this for all of its users. She also revealed that this feature of deleting content automatically perhaps won’t be limited to photos, Facebook Inc (NASDAQ:FB) can also launch it for general posts.

It’s not the first time that Facebook Inc (NASDAQ:FB) is struggling in the messaging app market, when its Facebook Messenger wasn’t able to catch the fancy of users, Facebook Inc (NASDAQ:FB) bought the leader of messaging apps, WhatsApp in a $19 billion deal. The company also owns the photo sharing service Instagram,  which it had bought in a $1 billion deal.

As of June 30, 2014, Philippe Laffont‘s Coatue Management owns over 5.8 million shares in Facebook Inc (NASDAQ:FB).

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Ritesh Anan is a full-time derivatives trader. Though he firmly believes in the power of Technical Analysis, he is also a lifelong student of macroeconomics. In his free time, he reads anything and everything that comes from Robert J. Shiller, George Soros and Nassim Nicholas Taleb.