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Snapchat downloads drops, declining the value of the parent company by almost 27%

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If you have been following the news lately, then you might already be aware of the fact that Instagram is slowly taking over all the craze from the rival Snapchat. This in a way is definitely affecting Snapchat and the parent company Snap Inc. However, according to the new reports which we have, it looks like Snapchat is indeed in a deep trouble after all. As of the first two months of the second quarter, the year-over-year downloads of the app are down a whopping 22-percent.

Yes, the data from Instinet suggests that overall downloads are down by about 22-percent which is quite an unusual for a company whose value grew over a couple of billion dollars. This obviously has affected the overall value of the parent company by 26.5-percent. As far as this decline is concerned, the downloads went downhill from being on a positive end of the scale to a massive downfall. And interestingly, Apple users have had the largest decline in the downloads. The iOS downloads have declined by 40-percent.

Snapchat deployed a vending machine to sell it’s Spectacles along Venice Beach

According to the analysts, one of the main reasons for this decline in the downloads of Snapchat are other social media platforms. As you might already know, Facebook, Instagram & a couple of other messaging services have already started copying Snapchat. This especially has a lot to do with the stories feature being copied. Well, if you don’t know what stories are, they are custom photos or videos which you can upload that stays on your profile for 24 hours. Not just this, few other feature such as Snapchat lens, etc. were also copied.

To sum it up, it is safe to say that we literally have a snapchat clone out there and since more users are already using Instagram, it was quite obviosu for them to switch over there and continue using the features than installing a new app and getting used to this. Having said that, we would like to know your thoughts on this. Are you a Snapchat user? If yes, then what is your favourite feature on the app. Be sure let us know by dropping a comment down below and also, stay tuned to PhoneRadar for more info like this.

Source – NYPost

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