Facebook, Still Dominant, Strives to Keep Cachet

When Evan Spiegel peered into a crystal ball to divine a future for his company, Snapchat, he did not see Facebook.He saw something else, something much bigger — a social network that could exist on its own, outside Facebook.Facebook is still the dominant social media service, and has been an attractive suitor for many start-ups. And Snapchat most likely spurned Facebook partly because it thought it could fetch much more than the billions Facebook was willing to pay.But the snub also foreshadows a possible future where Facebook is no longer the default place on the web where people go to network. The swift rise of upstarts like Snapchat in a shifting social media landscape suggests a change in how and where people like to spend their time.
http://www.nytimes.com/2013/11/18/technology/facebook-strives-to-keep-its-cachet.html

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