SnapChat First Drop: Loses 3 Million Daily Active Users

The recent report by Snap says that Snapchat lost three million daily active users during the second quarter. That number now stands at 188 million daily active users. These days Snapchat is in a battle with Instagram. Instagram has copied Snapchat features, such as it did with Stories, but the problem is that the people think that whatever Instagram copies from Snapchat, it does better.
From April to June, Snap’s revenue rose 44% year-over-year to $262 million.

SnapChat First Drop is Annoying

Snap has been struggling to convince big advertisers in order to spend more of their budgets on Snapchat ads and reach the app’s base of mainly 18-34-year-old users. However, Snap reported a loss of 14 cents a share.

Evan Spiegel, CEO, Snap said:

“It has been approximately six months since we broadly rolled out the redesign of our application, and we have been working hard to iterate and improve Snapchat based on the feedback from our community. We feel that we have now addressed the biggest frustrations we’ve heard and are eager to make more progress on the tremendous opportunity we now have to show more of the right content to the right people.”

Snap had never before faced a quarterly drop in daily users. However, Snapchat redesigned the app in February, the purpose behind that was to encourage users but it seems that Snapchat couldn’t make it.

Read More: Snapchat New Lenses Have Ability to Respond to Your Voice

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