One of the major concerns the social media platform-based technology company is that they are losing a substantial amount of the user base in this quarter. This is the first time ever that the company has reported a decline in the user base that to an every devastating level of 3 million people. Apart from this everything is not going well for the Snapchat the daily user of its App has also shrunk to a drastic level.
It was not too late ago just two years back when Snapchat was growing rapidly and added 21 million users in the same quarter, everything was going very well for the Snapchat before the initial public offering made by it, Facebook tried to acquire the company but Snapchat refused that offer, leading to which Facebook was under threat of losing its customer base to this growing tech company. However, to counter this Facebook immediately responded by building Snapchat like features that are Stories into its App.
Apart from this, the rise of similar social media app Instagram has affected more to Snapchat than the Facebook, as users are spending much more time on Instagram and the features provided by the Insta is much more sophisticated and easier to use among the users. After that, the company has taken some serious measures to roll out new changes for the users but failed to attract the customer base. Most recently the CEO of the Snapchat made a comment on the user of the Snapchat, in which he says that Snapchat is not for the poor countries. This has started a serious troll for the company and even leading to the trend in social media of boycotting Snapchat app. There were viral videos going on the internet of people actually showing how they uninstalling the Snapchat from their phones after the comment made by the CEO of Snapchat. This was the breaking point of Snapchat where the company started to loose the customer share.