Snapchat shares have fallen
Impacts encroach as Facebook release their fourth Snapchat copycat feature
by Abi Moses on 19th April, 2017
Facebook has released a new feature for its users to create picture effects along with photos, videos and stories that are deleted after 24 hours of their making.
Do these ‘unique’ features sound familiar? If they do, it's because all of these additions can be found on the Snapchat app. In fact, these are the making of the messaging app. However, this is the fourth time in the past seven months that Facebook have followed Snap Inc’s lead.
It seems Facebook is following in the footsteps of other social media networks which are doing similar nods towards copying Snapchat. Instagram introduced stories in August 2016, and earlier this month WhatsApp enabled users to create a story as well.
Tuesday morning’s trading seen Snapchat’s share prices drop approximately 4%. Meanwhile Facebook’s shares have gained roughly 1%.
Facebook’s camera effects include masks, frames and various filters for users to play with. These features can be selected and used while taking photos and videos. They can also be placed on stories. Similarly, to Instagram stories, these can be shared to friends of the site for 24 hours before they are automatically deleted.
In a blog written by Facebook they said, “The Instagram community has shown us that it can be fun to share things that disappear after a day”.
While the new Facebook additions are fairly new, the introduction of Instagram stories in 2016 had a profound effect on Snapchat’s popularity. It had a major part to play in the decline of daily active user growth of the company.
However, analysts have stated that they see Snapchat gaining more users because of its uniqueness. Although, others have suggested that the app should brand themselves as more of a camera company rather than a social network for the best possible success.
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