Snap's Elusive Task: Evading Facebook's Looming Shadow
Published May 10th, 2017
NEW YORK (AP) — Facebook has been bent on copying Snapchat ever since the social media giant tried unsuccessfully in 2013 to buy it.
Now, the company behind Snapchat is bent on becoming more like its bigger rival — at least when it comes to success. It needs to court new users and with them, advertisers.
Snap Inc. is scheduled to report its first quarterly earnings as a public company on Wednesday. Analysts expect Snap to report that its user growth rate continued to slide.
That's just a week after Facebook reported solid first-quarter results, with double-digit revenue growth.
Facebook's shadow continues to hang over Snapchat. Growth in Snapchat's user base slowed down last year after Facebook's Instagram copied Snapchat's "stories" feature, which lets users post short video clips that disappear after 24 hours.