Snapchat acquires Facebook

In a reversal of sorts, four-year-old photo and video sharing app Snapchat have finalized a deal to buy social networking giant Facebook. Snapchat refused to divulge the deal details and said that this is just the first in the line of many more additions company is aiming at. Analysts say the development was expected sooner or later given Snapchat’s ever growing popularity and Facebook’s dwindling fortune.

Mark Zuckerberg was unavailable for the comment.

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