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Facebook's MSQRD acquisition boosted the company, reduced competition - Business Insider

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Facebook abandoned a red-hot app after promising to keep it relevant, and it shows how far the social network goes to stay dominant

This story requires our BI Prime membership. To read the full article,In 2016, Facebook acquired buzzy face filter app MSQRD.

The acquisition and what happened after highlights how Facebook has bought up companies over the years to bolster its own tech, even at the expense of consumer choice. Within months, the app had plummeted down the app store rankings, users abandoned it, and software updates and new filters quickly stopped arriving.

Meanwhile, Facebook integrated the startup's tech into its own products, turbo-charging its augmented reality camera efforts as it sought to take on the threat of Snapchat.

 

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