A few months ago the Snapchat declared itself as a public limited company and offers its shares to the general public. But unfortunately, the public didn’t take much interest in the company shares. The app is faced decline in the downloads from the users. The Social media app faced losses in its share prices. According to the report, the initial public offering prices declined near about 26.5%.
From the last four years, the company earned about $22.2 billion. But now at that time, the company is facing decline as the users downloads for the apps are declined. According to the report, company is bearing loss of $2.2 billion that is 22% of the total shares are lost.
Facebook the social media giant is integrating features from last few months. The Facebook stories and many other features are copy from the Snapchat that may the one of the reason to decline in the popularity among users.
Other social media apps like WhatsApp and Instagram are acquired by the Facebook. Here is the statement from the report, the CEO of Instagram about the Facebook doings as :
“The first time you see a product show up somewhere else it feels a lot like copying but imagine a world where the only car was the Ford Model T. I’m really glad there are a lot of car companies producing different cars. Just because they have wheels and windows and AC doesn’t mean that you’re copying.”
Snapchat have an popular feature that turns your face funny character and now the same feature is copied by the Instagram and some of features are similar to the Dog filter or the Tiara filter.