Snapchat is famous with millennials with a strong user base of 166 million as of May 2017. Snapchat was launched in September 2011 and raised money from IPO in 2017 at $17 but today the shares trade near $12.5. Facebook is copying all the features of Snapchat and providing it in their own social media platform Instagram.
Facebook copied the idea of Snapchat stories to Instagram and WhatsApp to surpass number of users on Snapchat. Looks like the first mover advantage is not working for Snapchat.
Snap Inc has now acquired Strong.codes, a Swiss startup that will protect its software code from being reverse engineered. Will this move really help Snap Inc to gain the lost ground and user base from Instagram and WhatsApp? Facebook has a competitive advantage to poach resources and easily replicate the ideas that any competitors come up with.
Time will tell whether this was a good move by Snap Inc.
Source:
http://www.businessinsider.com/one-chart-shows-instagram-and-whatsapp-dominating-snapchat-2017-8
https://www.bloomberg.com/news/articles/2017-07-21/snap-hires-swiss-team-behind-software-protection-startup
Facebook copied the idea of Snapchat stories to Instagram and WhatsApp to surpass number of users on Snapchat. Looks like the first mover advantage is not working for Snapchat.
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Snap Inc has now acquired Strong.codes, a Swiss startup that will protect its software code from being reverse engineered. Will this move really help Snap Inc to gain the lost ground and user base from Instagram and WhatsApp? Facebook has a competitive advantage to poach resources and easily replicate the ideas that any competitors come up with.
Time will tell whether this was a good move by Snap Inc.
Source:
http://www.businessinsider.com/one-chart-shows-instagram-and-whatsapp-dominating-snapchat-2017-8
https://www.bloomberg.com/news/articles/2017-07-21/snap-hires-swiss-team-behind-software-protection-startup
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