Facebook (FB) Launches Snapchat Rival, Slingshot

Facebook (Nasdaq: FB) launched Slingshot today.

With its latest app, Facebook is looking to take some traffic away from Snapchat. Users of Slingshot can send a photo or video to a friend, but in order for the friend to see it, they have to send something back.

Users can add text to caption a photo or draw pictures...on the photo.

The idea is to get everyone to become a creator, not a spectator. For Facebook, that means more content and more opportunity to sell advertising.

This isn't Facebook's first foray into messaging, but being Facebook doesn't give it a leg up either. The company recently pulled its Poke and Camera apps from app stores due to low traction.

Shares of Facebook are up 0.8 percent.

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