It’s like Instagram isn’t even trying to hide the fact that it is directly copying features from Snapchat anymore. Today, Instagram Stories released its newest feature… face filters! Of course, these have been a staple of Snapchat for over a year but it feels like Instagram has finally said, “Fuck it” and just did it anyway.
— Instagram (@instagram) May 16, 2017
This comes after news today that Snap faced a massive loss in pre-market trading this morning following low Q1 earnings.
Hopefully Snapchat can find a way out of this hole, otherwise they will be forced to make some major concessions or innovations in order to survive. If it comes to the point that Snapchat might eventually have to be sold, it will likely be far lower than the original $3 billion offered by Facebook years ago.
via City AM