The tech world has been full of lawsuits revolving around copying or rather the imitation of innovations from companies within the realm.
While many might be familiar with the wars that have been ongoing between Samsung, Apple, Huawei and many other companies, there is a new war that is just cropping up. Of course, Facebook and Snapchat are not strangers to each other. The two battle for supremacy in the instant messaging or rather, social networking world. But the latest move will surprise many, especially those already familiar with Snapchat.
Apparently, Facebook’s Instagram has gained a new feature known as Stories. The surprising part of this new addition is that it looks just the same as what you already see in Snapchat Stories, leave alone the naming part. With both Stories’ features, users can post photos as well as videos to a timeline, which will then disappear after 24 hours.
Snapchat has been busy with efforts to grow its advertising business, an area it sees as a major source of income for the company. Now that Instagram has Stories, these efforts could suffer a huge setback, something that could even dent its $18 billion valuation.
At the time of this writing, Instagram is believed to host more than 300 million daily active users, a figure that Snapchat can only manage to halve. Of course, the former also boasts an even bigger platform with better tools, which is something that should be getting Snapchat bosses something to worry about. One thing that Snapchat has succeeded at is the ability to offer a Stories feature that lets advertisers pass their messages via a full-screen format that looks like a live presentation, similar to what happens with TV ads. This is far much better than what other social media platforms have to offer advertisers.
With Instagram, you get more of the same experience and it gets even better as the platform has a broader reach than Snapchat. In addition, the fact that the latter’s advertising business is still very young as compared to what Facebook has should make Snapchat even more concerned about the Stories feature that Instagram has gained.
Given that advertisers are already comfortable with their use of Instagram, the launch of Stories will only serve to attract more of them. There is no doubt that this will be a huge blow in the face of Snapchat, though this doesn’t mean the latter’s business will die.