As someone who never has and likely will never use Snapchat (tried it once, didn't see the value), Snapchat has a major problem that Facebook doesn't: it can't attract older users.

My parents, older relatives...everyone I know is on Facebook or Whatsapp.

But they will never use Snapchat.

Snapchat's users are only going to be younger. This makes them an attractive investment 10 years down the line, but not right now.