The stock price of Facebook Inc (FB) has gone up by over 1.52% today till the late morning trading session. The stock closed at $129.69 on Thursday.
The California based company is an American for-profit corporation and online social media and social networking service. The Facebook website was launched on February 4, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.
The founders had initially limited the website’s membership to Harvard students; however, later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University. Facebook gradually added support for students at various other universities, and eventually to high school students as well. Since 2006, anyone age 13 and older has been allowed to become a registered user of Facebook, though variations exist in the minimum age requirement, depending on applicable local laws. The Facebook name comes from the face book directories often given to United States university students.
Today, Facebook would be expanding the testing of a new camera in its main app that relies on the very same video and photo filters users of Snapchat enjoy. This includes masks that map to your face and full-frame effects that overlay over the scene. It will also let you either post that content or send it as a direct message to any number of people on your friends list. And in one more Snapchat-like flourish, this photo or video will only remain visible so long as you and your friend talk about it. If you fail to start a conversation in the first 24 hours after it’s sent, the content will disappear.
To try and get as many people to use this as possible, Facebook plans to place the camera icon in the upper lefthand corner of the main app, as well as letting you access it by swiping right on the main screen. While only a test, and one restricted to Ireland for now, this new camera marks Facebook’s most brazen attempt yet to strike at the heart of Snapchat’s user base. Never before has Facebook adopted features like this and placed them so prominently in its main app, which is used by more than 1.4 billion people every month. In making a near carbon-copy of Snapchat and bolting it onto Facebook’s primary software, the company is hoping to forestall — or perhaps even kill for good — the existential threat Snapchat poses.
Three years ago, Mark Zuckerburg failed to purchase Snapchat and now, Facebook seems to working on a path to shut down Snapchat. This new feature would indicate a direct war declared by Facebook on Snapchat.
Our analysts have given a “HOLD” rating to Facebook’s stock. Today’s rise indicates a positive response from the market and is expected to stay positive in the midst of its new features.