After Facebook, Apple working on a Snapchat competitor: Report

Apple has plans to capitalize on the popularity of social networks. The company is reportedly making a video sharing and editing app, similar to Snapchat.

According to a report by Bloomberg, the company is testing an app which will allow iPhone users to record videos and apply filters or drawings to the content, a feature exactly like Snapchat. In the past, Apple tried to launch a social network dubbed Ping in 2010 but, it failed.

The team behind Final Cut Pro and iMovie are responsible for the new app. However, no names were mentioned. The report adds the video sharing app is still in the preliminary development stages within Apple, and managers are weighing the app’s list of intended features. The company plans to launch this service in 2017.