We all know very well that Snapchat is one of the most popular social media platforms in the world. Millions of people use this network to share amazing videos, snaps or media on this platform. However, now according to the latest reports, Snapchat has lost a huge number of users after the controversial redesign.
Snapchat Loses Huge Number Of Active Users
Snapchat is a multimedia messaging app which is used globally. It was created by Evan Spiegel, Bobby Murphy, and Reggie Brown, the former students at Stanford University.
This social media platform can only be accessed through the mobile application and there is no way to access it through computer devices yet.
Snapchat has had a few complicated months, changing its design did not please the users. Snapchat, which is also a messaging service, has sought to reverse the situation, but it has not been simple.
Do you still use Snapchat? In recent months, a growing number of users have answered ‘no’ to this question. In the second quarter of 2018 alone, the service lost 3 million active accounts. The figure was revealed in the latest financial report from Snap, the company responsible for social networking.
Part of the problem is attributed to a powerful and relentless enemy: Instagram. After it began to support stories, Instagram became increasingly preferred by fans of ephemeral content – there are already more than one billion active users there.
But not only that. In an attempt to hold users off, Snap applied an in-app redesign in Snapchat. Except that the effect was exactly the opposite of the desired one. Many people left the service for having hated the new version. The most common complaint is that the application has become more difficult to use. Instead of helping, the new redesign seems to have demoted the service.
Current Situation in SnapChat
At least there is not only bad news: Despite the regrets, Snapchat managed to close the second quarter with revenue of $262 million, surpassing analysts expectations of $251 million.
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In addition, the social network lost 3 million users – this is the first time the company has recorded a significant decrease in accounts – but ended the same period with 188 million active profiles. It is still a significant number, even though it represents a growth of 8% compared to the second quarter of 2017.
The future is hazy, but at least for now investors can breathe a sigh of relief. Among them is Saudi Prince Alwaleed Bin Talal, who has recently invested $250 million in Snap and has now holds 2.3% of the company’s stock. He also invests in services like Twitter and Lyft.
So, what do you think about this? Simply share all your views and thoughts in the comment section below.