Largest social network Facebook is well-known for its adaptation as per the trends of time since its birth. New innovations/amends/features of FB are embracing the users till date and still it’s adding more and more to hold the top most position. Recently Facebook acquired Masquerade to enhance its photo and video messenger service.
Though the deal amount was not disclosed, but based on the previous trends of Facebook acquisitions, the value should be in billion $. Previously, Facebook has acquired Instagram for $1 billion and Whatsapp for $19 billion in domain of chat and photo service. Masquerade co-founders Eugene Nevgen, Sergey Gonchar and Eugene Zatepyakin will be joining Facebook, and key Masquerade members will work out of Facebook’s London offices, the companies said.
With the acquisition of Masquerade, Facebook is ready to beat its biggest rival Snapchat which denied Facebook purchase proposal of $3 billion in 2013. Apart from live, playful filters for selfies, Masquerade also enhances live personal video on which Facebook is currently focusing and also the stronghold of Snapchat. Since last few years, influence of Snapchat has grown because of their maximized reached out through media partners, sport leagues and other live events. In April 2015, Snapchat was the third-most-used app among 13- to 17-year-olds, compared with Facebook, which was No. 1, according to a Pew Research survey.
Learning for new entrepreneurs is to remain clear on the vision of startup since very first day of their venture – if the target is to become market leader, the major focus should be on adapting the concept as per the targeted market trends, needs and competition and if the long term target is to get acquired by market leaders, the focus should be on developing an ready to use enhancement in existing/predicated/announced features, services or business verticals of biggies’ business model.