FB: Facebook reportedly tried to buy Snapchat

Facebook reportedly tried to buy Snapchat • 5:41 PM

• The WSJ's Everlyn Rusli reports Mark Zuckerberg (FB) approached Snapchat about acquiring the startup for $1B+, but was turned down.
• Much like the Instagram deal, buying Snapchat would give Facebook control of a mobile picture-sharing platform that's seeing massive growth (350M+ Snapchat photos are now shared daily), and which is evolving into a social networking platform that could affect Facebook's engagement levels. Snapchat would also strengthen Facebook's efforts to keep teen users engaged amid concerns its popularity with the demographic is slipping.
• Piper's latest survey of U.S. teen social media use found only 23% named Facebook their most important social media site, down from 33% in spring and 42% a year ago. On the other hand, Instagram rose to 23% from 17% and 12%. Twitter (TWTR) came in at 26% vs. prior levels of 30% and 27%.

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