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Facebook looks to wipe out Snapchat

Facebook announced Tuesday it's adding even more Snapchat-like features, including a camera feature that will let users post photos to Facebook directly through a camera button on its app. Snapchat, which recently rebranded itself as a "camera company," pioneered the direct-to-app photo-taking technique when it launched in 2011.

Facebook says it's also adding more filters and animations, and a "stories" feature that nearly mimics Snapchat's 24-hour disappearing posts feature that it launched in 2014.

Why it matters: Many argue that Facebook's Snapchat-like features are not as good as Snapchat's original ones, but it doesn't matter. As Business Insider points out, they don't have to be perfect. "Zuck only needs half a percent of his users to prefer his copycat tool and he will have deprived Spiegel of 10% of his potential future users. That's a serious dent."

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