Facebook has recently acquired an app called Masquerade (MSQRD) in an effort to compete with Snapchat’s fun, engaging, (sometimes crazy) animated filters. To announce the partnership, Mark Zuckerberg posted a video to his personal page where it appears he has crafted himself an Iron Man helmet while he’s sitting at his computer busy coding.
Has anyone heard of Masquerade? A company history blurb on Masquerade’s website says their software has been in development since 2010. Being acquired by Facebook will definitely make Masquerade more of a household name, but is this enough for Facebook to compete with Snapchat?
We all know that Snapchat CEOs famously declined Facebook’s $3B offer to buy the company back in 2013, and are currently looking at a $19B valuation, making it the third most valuable tech company backed by VC firms behind Uber and Xiaomi.
I wonder what Facebook’s motivation is behind this acquisition. The animated filters on Snapchat are fun to use, I would venture to say they are not the main reason people use the app. If you wanted to post a video on Facebook with these filters, you can easily do so. So my questions are:
- What do you think Facebook’s motivation is being acquiring Masquerade?
- Do you think this will make a dent in Facebook’s competition with Snapchat, which is encroaching on Facebook’s title as the most used social media app among young people?
Here’s the link: http://socialmediaweek.org/blog/2016/03/facebook-msqrd-snapchat-lenses/