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Facebook adds more Snapchat-like features, and Snap stock falls

Facebook adds more Snapchat-like features, and Snap stock falls
Facebook is adding more Snapchat-like features to its app. (Matt Rourke / AP)

The Facebook app's introduction of Snapchat-like features sent shares of Snap Inc. tumbling Tuesday.

Facebook Inc. said it wants to let people's cameras "do the talking," as more people are posting photos and videos instead of blocks of text. That's both a compliment and a big challenge to Snapchat, which has been a pioneer in getting app users to chat through photos and videos.

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Shares of Snapchat owner Snap fell 6.8% Tuesday to close at $22.21. Facebook shares rose 1% to $141.76.

With the update, Facebook is adding a camera icon to the top left corner of its mobile app. Users can tap it to open their phone's camera to complete a photo or video post. Users could post photos from the app before, it just took two taps.

Facebook's other new Snapchat-copycat features are filters and animations that can be added to images, and a "stories" feature that lets users post photos and videos that stay live for 24 hours.

Snapchat pioneered the camera-first sharing and is wildly popular with younger users.

Times staff writer Paresh Dave contributed to this report.

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UPDATES:

1:45 p.m.: This article was updated with the movement of Facebook and Snap shares.

This article was originally published at 7:25 a.m.

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