Major Snapchat update coming following the company's major losses
Snapchat is one of the largest social media platforms worldwide and is also one of the fastest growing ones. It is definitely a technological giant of which is in direct competition with other social media giants Instagram and Facebook.
In fact, Snapchat has refused Facebook offers to purchase the company numerous times in the past including major deals made by the Facebook giant. Snapchat considers themselves their own independent company; and don't plan to budge.
However, they know if they want to continue this form of growth, changes need to be introduced to the platform. This as their stocks plunged, growth slowed and complains piled within recent weeks. It's been the company's biggest rough patch yet.
The app's users are stating they find the app too complicated to use and way too difficult to get around. Although numerous previous updates attempted to fix this issue, it's only seemingly gotten worse for many others. This resulted in confirmations that the company is about to introduce plans for a major app redesign to ease access to their app's features.
News agencies in general, like CNN, Washington Post, etc. have extended into Snapchat and are doing quite good on the apps - spreading breaking headlines to people who may not follow the news on their channels or on their Twitter handles.
The company also posted a huge loss in comparison to Instagram's direct attack against the company while introducing 'Instagram stories'. This was aimed, obviously, to imitate Snapchat's story function.
This November, the Facebook-owned company Instagram posted that their stories were used twice as much as Snapchat's users were using their feature. It is the first time Snapchat has fallen off rankings of the most used style 'stories'.
Snapchat is definitely not losing momentum, and are still growing tremendously. However after a recent stock plunge, and the customer complaints as well as Instagram stories' success over the company, it's no wonder they need to change the way the act before they head for a company-wide crisis.