According to a media report, Facebook CEO Mark Zuckerberg is personally supervising the development of Slingshot, an app that will compete with SnapChat.

Facebook has been working for several months on the planned video-chat app, which would allow users to send short video messages using a touch-screen, the report said, citing people familiar with its plans.

Slingshot could be launched this month, the report cited one source as saying, while noting that Facebook might ultimately decide not to proceed with the launch of the app.

It’s worth mentioning that Facebook tried to buy SnapChat at USD 3 billion. The offer was rejected – despite the fact that it was three times what Facebook paid for Instagram, another growing social media brand.

Snapchat, popular among teenagers, allows users to send smartphone photos that automatically disappear after a few seconds.