Some time ago, Instagram managed to capture the attention of young people to such an extent that many stopped using the Snapchat social network, because they had similar functions.
However, in recent times Snapchat has gained ground and has added more than 750 million per month, 25% more than what the application attracted almost a year ago. This was confirmed by Evan Spiegel, the CEO of Snap Inc.
“This was all accomplished as a result of the changes we made to our business and despite the slowdown in our revenue growth,” Spiegel told an audience of investors at a meeting in Santa Monica, California.
Despite the fact that Snapchat is not the most popular among young people, as TikTok is, it attracts their attention because of the main feature of the application: messages are deleted instantly.
Snapchat was a pioneer in this type of ephemeral communication, since momentary photos might be shared and stories that were deleted within 24 hours. Then, seven years ago, the idea was taken over by Instagram to create “Instagram Stories”. This caused many users to flee Snapchat.
How did they improve?
Last year, the company said it was winding down operations and narrowing its focus to three priorities:
- Add users and have them spend more time on Snapchat.
- Drive revenue growth.
- Invest in augmented reality technology.
