Snap’s share price falls from $17 to $13
Facebook and its daughter company Instagram have been copying, or rather stealing, Snapchat features for quite a long time and it appears to have started taking a toll on Snap’s user-base and shares. The news is out and, yes, Snapchat’s parent company Snap’s share price has fallen to $13 from $17. Snap’s active user growth has also plunged from 17.2% per quarter to just 5%.
While on the other hand arch-rival of Snapchat, Instagram is growing with each passing day. Just recently Instagram on its first “Stories” feature anniversary has released data which states, “Those under the age of 25 spend more than 32 minutes a day on Instagram, on average, while those age 25 and older spend more than 24 minutes a day.” In the post published by Instagram, it is also mentioned that this growth is due to the “Stories” feature. The data is astonishing because Instagram has beaten Snapchat in growing “Stories feature” user base.
Instagram said in a post,
“Stories made Instagram a place for people to share all of their moments – the highlights and everything in between”. As of now Instagram Stories now has 250 million daily users compared to Snapchat’s 166 million daily users.
Now, after losing a massive user base to Facebook and Instagram, Snapchat has finally decided to stop them from copying its features from now on. And for this purpose Snap has bought an anti-copy startup which helps companies to hide their codes so that other companies don’t copy or steal them.