Facebook had been working on this new update for a few months and finally presented it to its Instagram users. The company is offering 8 filters. Leading tech writing websites have termed this Facebook move as “copying the last big feature of SnapChat Stories”.
Before copying this feature, Facebook has already copied Snap’s overlaid creative tool with many other tools as well. According to a leading tech website, Instagram’s head of product Kevin Weil at the TechCrunch Disrupt conference in New York said, “If we’re being honest with ourselves, this is the way the tech industry works and frankly, it’s how all industries work”.
The feature is available to both iOS and Android users. With this new update, the company is also rolling out more updates such as the rewind option for videos.
On the other hand, the arch-rival of Instagram, SnapChat is in deep trouble as the company revealed its declining earnings for the first time earlier this month.
The company in an official statement said, “The company brought $149.6 million in revenue in the first quarter this year having a loss of $2.31 per share”.
Tech gurus were expecting a loss of 16 cents per share however the reported loss by the company was quite high which is an indication of huge problems ahead.
Furthermore, with this new update same as SnapChat being rolled out by Instagram, we have to wait and see how SnapChat will react.