Deutsche Bank Upgrades Facebook (FB) to Buy on Revenue Momentum
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Snapchat is One of Facebook's (FB) Biggest Long-Term Threats
January 14, 2013 4:54 PM ESTDeustche Bank was overwhelmingly bullish in its upgrade of Facebook (NASDAQ: FB) Monday. However, one of two long-term issues the firm highlighted was pesky newcomer Snapchat.
Snapchat is a mobile app that allows users to send photos to individuals or groups that disappear after a few seconds (1 to 10 seconds). As of December 26, 2012, Snapchat had 50m snaps shared every day, up from 20m in October, with one billion snaps sent in total since launch, the analyst notes. The app target demographic is users between 13 and 25 years old, with a growing 40... More
