Why Snapchat Is Facebook's Biggest Fear?

In the last 10 years that Facebook Inc FB grew into the biggest social media player. With a market cap of over $200 billion and no sizeable competitor in sight, the company has never been “fearful” of competition. However, according to New York Times columnist Nick Bilton, they are getting afraid of someone now.

Bilton was on

CNBC

Tuesday to discuss why he thinks Facebook is worried about Snapchat.

Who's Afraid Of The Big Bad...Picture Sharing App?

“Yeah, well they are afraid of someone in particular and that is Snapchat,” Bilton said. “Snapchat is [...] growing at a rate that is kind of equal to where Facebook was in its early years and

Twitter

and so on.

“Kids absolutely love this platform, and they love it because its ephemeral and it goes against the entire business model of what Facebook and Twitter and all those guys do.”

The Appeal Of 'Momentary' Photos

He continued, “They essentially rely on people putting things online that stay there forever and ever and they can place ads next to them. And what Snapchat is doing is it’s saying, ‘Hey! Here is the thing you can put on our application, it lasts for 24 hrs and then poof it’s gone forever.’ And kids just absolutely love that.”

What Does Snapchat Have That Facebook Is So Fearful Of?

“I think the way to look at this is you think about the way all of us, the way we as adults grew up. We grew up in a world where everything was private and then along came social media and there was this thing where you could be public and it was really exciting and everyone jumped at it and they said, ‘Wow! I can share things with my friends all over the place,’

“You look at teens today, they have grown up in a world where everything was always public.

“So, now along came Snapchat and for the first time ever they can be private with their friends. And I think that is essentially what the fundamentals of this whole platform [are] all about and it’s why kids absolutely love it.”

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Why Snapchat Is Facebook's Biggest Fear?

Who's Afraid Of The Big Bad...Picture Sharing App?

The Appeal Of 'Momentary' Photos

What Does Snapchat Have That Facebook Is So Fearful Of?