Facebook reportedly offered one billion dollars in a bid to acquire photo-sharing app Snapchat. The amount is exactly what Facebook paid to acquire another photo-sharing app, Instagram, last year.
According to Mashable, the deal could help bolster Facebook's staying power, as it struggles to hold onto users who are tired of blogging about their lives and instead preferring to share photos via mobile apps.
Similarly, acquiring Snapchat, which claims its users send 350 million photo messages every day, would help Facebook corner the market on popular photo-sharing apps. If reports of the one billion dollars offer from Facebook are confirmed, it would place Snapchat in the same category as startups such as Instagram and Google-acquired Waze. Facebook and Snapchat did not immediately respond to requests for comment.