The stock of Snap Inc (NYSE:SNAP) closed at $14.71 losing 0.54% in yesterday’s trading session. The 40% increase in the submission of Stories witnessed by this company was covered in a report by Axios. Earlier, the company launched its location based Map feature. The Harvey and Irma caused loss of lives and property. Snap Maps’ popularity resulted from these calamities.
By viewing related posts made by others, a large number of users were able to understand the prevailing weather conditions. A lot of companies and well wishers expressed their sympathies for the victims. Some contributed food stuffs whereas others helped the victims to communicate effectively with friends and relatives.
Instragram Stories were rising in terms of popularity and that was considered one of the reasons why Snapchat’s user growth had been slowing down. Instagram copied Snapchat’s Stories feature. Instagram Stories boasts of over 250 million users and that figure is substantially bigger that the 173 million associated with Snapchat.
The addition of the “Stories” feature to Instagram was seen by analysts as a proper strategy with most of them projecting that the platform would soon grow more vibrant. It was in November 2016 that Instagram changed a section of its policies allowing the various users the freedom to add links to their stories.
Just like any other vibrant company in the industry, Snap has been struggling to win over the confidence of investors as well as boost its user base. The most recent move was the collaboration with artist Jeff Koons and the goal is to launch an art platform.
In April 2017, the provider unveiled its “World Lenses” and thereafter it rolled out 3D Bitmoji World Lenses.
Snap is looking forward to attract new subscribers. It is aware of the high competition in the market and has for that reason set in place measures to help it stand out from the rest.
An official working with the company opined, “We believe the increase in user engagement will help us generate more advertising revenues.”