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Is this Instagram's answer to Snapchat?

Source: Richard Groves

Does Instagram have a Snapchat competitor up its sleeve?

On the day Facebook shares doubled its IPO price, screenshots emerged Thursday apparently showing what Instagram, the social giant's $1 billion acquisition, is cooking up next. A banner ad on Instagram, which has since been pulled, appeared to promote a "one tap photo messaging" app called Bolt, according to users.

"Did anyone else get this weird Bolt notification on their Instagram earlier?" tweeted @yo_areli.

"What is this, @Instagram?" tweeted @englishinvader.

This wouldn't be Facebook's first journey into the world of ephemeral photos—it failed with Poke; has had trouble getting Slingshot off the ground; and reportedly wasn't able to acquire Snapchat for $3 billion.

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Android users who have seen the Bolt banner have been unsuccessful in finding the application in Google's Play Store. This could've been a sign Instagram may have accidentally released the ad before the app was ready to launch, or it was an effort to drum up awareness. It's also possible Instagram was testing a new app-install unit, which could be a new form of revenue generation for the photo-sharing app.

Facebook didn't immediately return a request for comment.

If Bolt is indeed a real app, Instagram may want to rethink the logo it created, which is eerily similar to the lightning bolt logo used by QuizUp, a popular gaming app. As The Verge points out, Bolt is also the name of a free calling app on Android.

By CNBC's Eli Langer

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