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Forget Facebook, Snapchat Is Teens' Top Social Media Platform — Tech Roundup

While Facebook (FB - Get Report) is still the king of social media by sheer user count, there's a formidable foe gunning for the top. It's not Twitter (TWTR - Get Report) or Instagram, which Facebook bought in 2012 for $1 billion. At the time, that seemed a lot of money. Now it's a bargain.

Had Snapchat accepted Facebook's $3 billion offer, that would have been a steal.

That's because in a recent survey by Piper Jaffray, analysts found Snapchat to be the most important social media network for 28% of teens. That's up dramatically from the 19% Snapchat garnered last fall.

Facebook's Instagram came in just a percentage point short of the top this time, registering 27% of the votes, slipping from 33% in the last survey. Twitter came in next with 18% followed by Facebook with 17%. Facebook saw its year-over-year results climb three percentage points. Twitter, however, is another matter.

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Twitter stock, which is down a whopping 66% over the past 52 weeks, was the most important platform for 24% of teens in the spring of 2015, which shows...