According to recent data about the rate of downloads, it is observed that Snapchat has suffered a serious decline in terms of number of downloads. It seems that the platforms that copy Snapchat properties are doing better than Snapchat.
Snapchat, whose features are copied one by one by its competitors, is not doing well. Lastly, the company said its shares fell 26.5 percent and posted a net loss of $ 2.2 billion for the first quarter. Unfortunately, financial data is predicted to go much worse in the second quarter. The reason of all these declines is the fact that Snapchat is not downloaded as much as it was before.
According to a survey by Instinet, the Snapchat application downloads seem to have declined by 22 percent in the first two months of the second quarter compared to the same period of last year. This is underlined that it is not at all normal for a company that has reached $ 800 million in June 2013 and has reached $ 23 billion today. On a monthly basis, downgrades are down three to two percent compared to 6 percent growth in the first quarter.
Another important information is that the biggest loss is seen on the front of iPhone users. Snapchat downloads on the iPhone platform lose 40 percent.
Snapchat states that there is Facebook, Instagram and other messaging applications who copy the attributes of Snapchat behind these losses. In particular, it is emphasized that the Stories feature is the most remarkable among them. Another feature that is copied and highlighted is the various filters.
It is curious what Snapchat will do to reverse this decline and to get ahead of his opponents. Another curiosity is how the company will act if there is no improvement in the second quarter financial reports.