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Pinterest Slumps After Facebook Releases a Competing App

Pinterest was falling in premarket trading Friday following a report that said Facebook had released a competing app. The Information reported that an experimental group within Facebook quietly released a an app - called Hobbi - for saving and sharing photos of activities like cooking and home improvement projects. "Organize your photos into visual collections and see the progress you're making over time," the description added. Read More...

Pinterest was falling in premarket trading Friday following a report that said Facebook had released a competing app. The Information reported that an experimental group within Facebook quietly released a an app – called Hobbi – for saving and sharing photos of activities like cooking and home improvement projects. “Organize your photos into visual collections and see the progress you’re making over time,” the description added.

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