The old saying goes, "imitation is the sincerest form of flattery," but in the case of Snapchat, it might not be receiving the flattery that it was hoping for. According to a new report out from Business Insider, Facebook-owned app Instagram announced today that over 200 million users are using Instagram Stories every day which is up from 150 million in January. This translates into more people using Instagram Stories than Snapchat, which had last reported 158 million daily users in February.
Snapchat's shares had dropped approximately 1.5% in response to the news.
Recently Facebook has tried to attack Snapchat at its core features by ramping up adding the Stories feature to its Messenger, WhatsApp, and the main Facebook App, with photos and videos that are shared, appearing in chronological order, but then subsequently disappearing after 24 hours.
Bloomberg had reported earlier this month that Facebook had experienced a recent decline in sharing original and personal content, with more and more users instead opting to share news and information from other websites. As the social network site has continued to grow, so has users' lists of friends and thus they might not always want to check into that local diner or dive or share the latest and greatest from their lives, realizing that it might not be relevant to all their connections.
That said, the numbers come at a time when Snapchat is starting to feel the heat just a bit to grow its user base. After Instagram had added the Stories feature, Snapchat investors are hoping to see growth when the company unveils its first quarterly earnings on May 10th.
So, in this battle of social sharing apps, which one do you use more readers? While I personally don't use either feature myself, I find Snapchat's filters more fun to use, but I think Instram's user interface is more friendly.