Facebook taking on 'Snapchat' with a live streaming video app: ReportNew York, Apr 26(AZINS) In a bid to raise user engagement, Social networking giant Facebook is developing a standalone camera app, the one similar to Snapchat.

According to the Wall Street Journal, the California-based company is also planning a feature that allows users to record video through the app to begin live streaming.

Facebook has been concentrating on its video platforms in the recent past in a bid to compete with Google's YouTube.

Meanwhile, Facebook declined to comment on the development.