According to Isaac's sources, it will be a stand-alone app separate from Facebook's main app that will work very similarly to Snapchat.
Snapchat is the mobile app that lets you send self-destructing photos and videos to friends. Since launching last year, Snapchat has seen incredible growth, with people using it more than 30 million times a day.
Just last week, Om Malik of GigaOm reported that Snapchat is in the process of raising an $8 million round from Benchmark Capital, the same firm that backed Instagram, at a rumoured $50 million valuation.
Snapchat CEO Evan Spiegel told Isaac that he hasn't heard anything about Facebook launching a clone. But that doesn't mean Facebook isn't looking to squash some of its growth and get in on Snapchat's success.
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