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Facebook Ready to Pay One Billion Dollars to Acquire Snapchat – Reports

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In its efforts to acquire Snapchat, a photo-sharing app, Facebook has offered one billion dollars according to the reports. Interestingly, this is the same amount which Facebook paid last year to purchase Instagram, another photo-sharing app.

Facebook is without doubt one of the most popular social networking websites of the world with more than a billion users spread all across the world. However, in recent times, a number of users have shown an inclination to turn towards other social networking websites as they allow them to share pictures more conveniently.

This is exactly the reason why Facebook paid a hefty amount of money to acquire Instagram, which has been a popular application for many years now, in 2012. On top of that, Facebook made drastic changes in its search policy this year to attract more advertisers.

If Mark Zuckerberg’s company is successful in buying Snapchat, it will go a long way in helping Facebook retain a massive chunk of its users. Snapchat claims that its users share more than 350 million photos through this application every single day.

Both, Facebook and Snapchat, have refused to comment on this news immediately but if the deal goes ahead as planned, it will surely be a massive breakthrough for these two websites.

 

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