Snapchat make new features public
Will these platform updates impact share price?
by Abi Moses on 12th April, 2017Snapchat is seemingly channelling their social media competitors by similarly making their posts public.
Rivals such as Twitter and Facebook actively enable content to be shared publicly, so it seems Snapchat is channelling its competitor’s processes by doing the same. Some may say this is fair, as Facebook has been copying the popular company by allowing its users to create stories.
While users could already view “Our Story”, Snap is now enabling stories to be created and then be found by keyword searches. For example, pictures or videos of Mount Everest, Puppies or Rugby.
“We’ve built a new way to understand what’s happening in Snaps that are submitted to Our Story, and to create new stories using advanced machine learning. The results have been amazing: you can search over one million unique stories on Snapchat!” the group said in a statement.
In March, Facebook took on board Snapchat’s very successfully popular feature and added it to their own brand. They’ve allowed users to create ‘Facebook Stories’, which conclude a collection of photo’s or videos which are only available to view for a maximum of 24 hours. Stories are also available on Facebook Messenger and other social media platforms, such as Instagram.
Analysts have unveiled that Snapchat’s user figures have plummeted, and have considerably slowed since 2016. This is speculated to be because of Instagram’s adoption of stories. It’s estimated that the social media rival have approximately 150m daily active users of the story. Although, Snapchat have said that their figure decrease is down to a slow pace of product launches and a problem in its Android app.
However, analysts have also stated that the young, engaged audience members of Snapchat are reasons to back the app. Furthermore, talks are underway according to expansion of Snap’s search stories. Snapchat shares have risen approximately 1.4 percent to $22.53.
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