Poor old Snapchat is having a bit of a rough time, folks. The app’s daily active user count has dropped again, this time by 1 per cent, hitting 186 million from 188 million in Q3.
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It’s not completely fucked just yet, though. Its user count is still up by 5 per cent year-over-year and beat Wall Street revenue expectations, but there’s no denying the once popular app is on struggle street, with growth dropping 1.5 per cent in Q2.
Parent company, Snap‘s share price dropped to $6.31, which is a far cry from its IPO price of $24. Needless to say, investors are pretty spooked and are probably fearing the company will continue on a downward trajectory. The company’s revenue per use also dropped in the developing world but seems to be gaining in the UK and Europe.
“While we have incredible reach among our core demographic of 13- to 34-year-olds in the US and Europe, there are billions of people worldwide who do not yet use Snapchat,” Snap CEO, Evan Spiegel, said. According to him, the majority of the 2 million people leaving the platform are those using Android devices on which Snapchat currently runs like fucking trash.
“Quality takes time. We’re going wait until we get it right,” he said. It’s hoped that the Android app’s overhaul will get the company back on track, but only time will tell.
Unfortunately for the OG Stories app, Instagram seems to be continuously ahead of the curve when it comes to the popular feature. Outside of that, I guess folks are growing tired of not remembering what they’ve said in a conversation.
