Mark Cuban's Latest Start-Up Deletes Texts Just Seconds After They Are Read

PHILADELPHIA (CBS) – Mark Cuban, the billionaire owner of the Dallas Mavericks, has backed a new app which is being called the Snapchat of text messaging.

The app is called Cyber Dust and it deletes text messages 30 seconds after they are read. It even sends an alert if the receiver of the message takes a screen shot.

Cyber Dust says its messages are fully encrypted and the company promises that they are never stored anywhere. They simply disappear.

Mark Cuban explains his interest in the app, "I've realized how much people fear that their digital footprint is creating a digital profile of all us. Your Facebook page, your tweets, your Pinterest, Tumblr, Instagram pages, your Spotify and Pandora playlists, all of these are being aggregated and evaluated to tell marketers what you like, don't like, buy, won't buy, your political affiliations."

Cyber Dust is free and according to its website, it always will be.