Snap just can’t seem to crawl out from under the pile.
Snapchat has been on a downward spiral for quite a while now, and its biggest rival, Instagram Stories, is taking over the photo and video-based side of the social media world by storm.
Unfortunately for Snapchat, it turns out that it has a new, much bigger competitor to worry about, namely Facebook and its entire line of social media apps.
As a matter of fact, Facebook Stories, Instagram Stories, and WhatsApp Status are now inching close to 500 million active daily users each, as compared to Snapchat’s paltry 190 million. All three apps have features similar to Snapchat and have a much bigger active user base, which puts the latter in a risky situation.
Facebook alone has over 1.56 billion daily users, and around a third of that is posting on Facebook Stories daily. This is certainly an achievement for Facebook and a huge loss for Snapchat, considering that the former launched the feature only two years ago.
Other than that, it seems like Facebook has a much better money-making plan than Snapchat as well. According to Facebook COO Sheryl Sandberg, around 3 million advertisers have bought advertisement spots on Facebook Stories, as well as on other Story-like features on other Facebook-owned social media platforms.