Facebook Tried, and Failed, to Buy "Asia's Snapchat", Snow

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It’s no secret that Facebook wants to become a major player in practically all things Internet-related, the company now owns both Instagram as well as WhatsApp and the network has seen something of a return to form over the past year or so. There is, however, one company that the firm can’t seem to match right now and that’s Snapchat. Facebook is now trying to offer similar features to the fun filters and effects that have bought so many new users to Snapchat as well as kept those looking to stray loyal. While Facebook will no doubt be able to compete with these features, thanks to the sheer amount of users that they have onboard, the firm did try to buy Snapchat back in 2014 for $3 Billion, but failed.

Now, reports are that Facebook had tried, and again failed, to purchase a similar product to Snapchat, this time from South Korean firm Navver. The social media world is no stranger to Navver, as they’re the South Korean firm responsible for messaging giant LINE, which is dominant all over Asia. Facebook tried to purchase, Snow, a similar product to Snapchat developed by Navver, however, they have failed once again as the company behind it felt that they could go it alone and make a success of the product. There’s a strong sense of de ja vu here, as this is the exact reason that Snapchat gave for turning Facebook’s generous offer back in 2014, and considering that Snap is looking down the barrel of a possible IPO of $25 Billion, it sounds as though Snap were right to turn down the cash.

Snow is likely to prove something of a success as well, but how much of a success remains to be seen. As Facebook tries their best to make their own product offer similar functions as Snapchat, all the while offering the same sort of network and interactivity the blue app has become known for, it’s clear that Facebook feel threatened. Should an IPO for Snap happen early next year with the sort of figures that we’ve been hearing, Facebook will definitely have something to worry about.