Tim Bradshaw and Hannah Kuchler:

Facebook is going head to head with rival Snapchat in the video-chat app market as the social networking group scrambles to win back users from the popular ephemeral messaging app. 

Facebook has been working for several months on the app, known internally as Slingshot, with a simple and speedy user interface, said people familiar with its plans. 

"If you guys were the inventors of Snapchat, you’d have invented Snapchat."