The stock of Snap Inc (NYSE:SNAP) closed at $12.34 losing 0.56% in yesterday’s trading session. Competition is getting rather stiff for the company. But the encouraging part lies in the fact that the Snap Inc. app has some compelling user metrics to share with advertisers.
The most recent reports indicate that nearly half of the users that use Snapchat on a daily basis aren’t on Instagram. This was brought out clearly by the latest data from App Annie commissioned by Snap.
On top of this, 40 percent of persons that use Snapchat can hardly be found on Facebook, Inc (NASDAQ:FB). A few months ago, App Annie discovered that 46 percent of those persons that used Snapchat everyday did not at all log on to Instagram. It went ahead to disclose that 35 percent did not log on to Facebook.
Snapchat has expressed great excitement over the data and its rivals have in numerous instances copied its innovative stories. Facebook and its companies WhatsApp and Instagram at the moment take great pride in the fact at the moment they have their own versions. Snapchat needs to be cautious about them since they might be outperforming it soon.
It was in the course of this month that Snap went ahead to report its third quarter earnings revealing that it had reached 178 million daily active users across the platform. At this point in time, WhatsApp and Instagram each claime about 300 million daily active users and that is just for their Stories features alone.
It was back in October that the Instagram Stories hit the mark after surpassing the 250 million daily active users recorded in June. It was around the same time that the WhatsApp Status also hit its threshold after it posted a quarter-million daily active users in July. Instagram has been able to achieve half a billion in terms of the daily active users across the app.
Snap’s spokesperson opined, “We are closely following on the market dynamics and we will do all within our means to maintain our relevance in the market.”