Dive summary:

• Facebook has a new photo-sharing app in the works that will only make photos available for 1 to 10 seconds similar to Snapchat.
• Concerns exist about how the photos will be stored since Snapchat does not store its photos at all.
• Facebook has the opportunity to capitalize on Snapchat’s scandalous sexting reputation.

From the article:

… More than anything, though, the Facebook competition helps Snapchat because it gives them a great deal of credibility and visibility. Snapchat got its first press in a long New Yorker article about Stanford last year, has been covered fairly frequently since then, and is raising a substantial Series A funding round. …