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Facebook Launches Collaborative Video App

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Facebook Inc (NASDAQ: FB) launched a social video app Wednesday that observers called an effort to compete with the popularity of Snapchat.

The product, called Riff, encourages users to create 20-second videos.

"Then your friends can view it and choose to add their own clips on that topic," Facebook product manager Josh Miller said in a post.

"The potential pool of creative collaborators can grow exponentially from there," Miller said.

The company has no plans to monetize the app.

"Giants like Facebook have the resources to assign small squads to throw spaghetti at the wall," Techcruch columnist Josh Constantine said.

"The parent company gets fed even if only the juiciest meatball features stick. There's very little to lose," according to Constantine.

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