First it was Instagram that went down for $1bn last year. Could Snapchat be the next acquisition-victim in the social media industry? You never know, it just could be.

But what is this Snapchat?

Most of us are so much into Facebook, Twitter and Google+ that the other small fish in the background practically get gobbled up. Except this one, that's got the industry shaking and the parents of tweens twitching their eyebrows in despair.

Like Instagram, Snapchat is a photo sharing app where users, mostly teens are trying to have some racy fun by sending and sharing videos and photos. So what's new in this? The catch is that the teens can now play safe from sneaky parents, because the photos are self-destructive!