Snapchat, the one-of-a-kind social media network, is encountering a huge drop in its popularity in spite of being the most popular choice for the Millennial along with the Z Cohorts, the younger generation. According to a report, the popularity of the app has depleted drastically.
During the second quarter of the year, it was observed that the app has allured188 million DAU or Daily Active Users. This number is 3 million lesser than the first quarter of the year.
The hubbubs started when Kylie Jenner, the entrepreneur and reality TV star declared to leave the social media platform for a time being. A month later, Chrissy Teigen, a model, also followed suit but permanently. She had encountered certain concerns with the redesigned platform of Snapchat.
Rob Kniaz, the co-founder of Hoxton Ventures, the technology venture capital, stated that the present scenario is highly dangerous that depicts the severe loss of the customers. It also reflects the fact that something is critically wrong with the platform that has caused the huge loss. In fact, the share prices of Snapchat have fallen by 8% after the NYSE opened.
Evan Spiegel, the Chief Executive of Snap Inc. stated in a conference call that he is looking forward to the future of the company. He is also optimistic regarding the outcomes. He also expects this downfall to be temporary. However, he denied to comment on the present scenario and whether or not the company is gaining back the users.
He also stated that the revised platform of the app has created the disruption. The users stated that the new interface was extremely confusing and is contributing to the depleting user’s percentage. Along with it, the concerns of the crashing, performance, and poor image quality have been the reasons for concern. However, the company has designed an overhaul plan to get over the concerns.