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Facebook quietly released a Pinterest clone and sent its stocks sliding down

  • Facebook has quietly launched a Pinterest competitor in a handful of countries, the Information reported Thursday.
  • Pinterest’s stock slid 4% after news of the Facebook clone broke.
  • Facebook has been known to copy smaller apps‘ popular features in the past, most famously Snapchat’s „Stories“ feature.
  • Visit Business Insider’s homepage for more stories.

Pinterest may have to prepare for a turf war with Facebook.

As spotted by the Information on Thursday, Facebook has rolled out a new app called „Hobbi“ in just four countries: Colombia, Belgium, Spain, and the Ukraine.

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Hobbi bears a striking resemblance to Pinterest, allowing users to catalogue and share photos of projects and interests.

After news of Hobbi broke on Thursday the company’s shares slid by 4%, although they partially recovered according to CNBC.

In the past, Facebook famously cloned Snapchat’s distinctive „Stories“ feature – originally for a standalone product, although Stories later got folded into Facebook’s other platforms. Stories on Facebook, Instagram, and WhatsApp became so popular that last year it accrued more than twice the amount of users as Snapchat.

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