Facebook Inc. is indeed trying to get teens back into the fold.
Marketwatch is reporting investors, who heard the company confirm that there was a drop-off in daily visits by young teens last quarter, should take note of the reports on Wednesday that Facebook made a $3 billion or more, all-cash offer to buy the revenue-free startup Snapchat.
The Wall Street Journal reported that Snapchat rebuffed Facebook, and is instead looking into an investment round led by Chinese e-commerce company Tencent Holdings, which would value the company at $4 billion.
Snapchat is the latest trend among young teens and the tech savvy, letting them send short-lived texts or photos that can disappear within 10 seconds. It basically lets kids and adults send things that they won’t later regret when they are looking for a serious job, enabling the safe texting of all kinds of compromising photos and messages.
The move by Facebook shows how it is seeking to try and recapture its trendiness . Teens, who were the first users of Facebook when it was a network only for college students, are now onto other services and apps, such as Instagram, Tumblr, Snapchat, Wechat and other messaging apps.