According to a report from TechCrunch, Instagram‘s new Stories feature is stealing away users from Snapchat, following a decrease of 15-40% of users when Instagram launched its version. Citing analytics from Delmondo, Snapchat Stories are also being viewed by 40% fewer users.
Instagram, the Facebook-owned app that began as a platform for posting photos and short videos, has now established itself as a worthy competitor in Snapchat’s own photo-sharing market. Snap Inc, the app’s parent company, plans to file a $25 billion IPO later this week.
Facebook has also begun to implement the temporarily viewable photo concept to its main website, and has revealed plans to bring it to Whatsapp and Messenger. Now, with nearly all of its major applications hosting carbon copies of Snapchat’s formula, it appears the company may have a chance at erasing the influence of Snapchat altogether.
One former Vine “star” said that her Snapchat Stories were viewed by a whopping 60 thousand fewer users from August of 2016 to January of 2017.