Instagram Stories which was “inspired” by Snapchat, continues to grow rapidly bringing on an additional 50 million active daily users in just 2 months. This brings the active daily users of Instagram Stories to 250 million further dwarfing Snapchat’s 166 million users. This huge jump for Instagram comes as the app continues to tweak its popular features like live video which users can now share via stories allowing them to last for 24 hours instead of disappearing immediately after a live broadcast ends. All this mans that almost 100 million more people are using Instagram stories than Snapchat. This is also yet another blow to Snapchat which Facebook and Instagram have been shamelessly copying. In fact, other platforms like Skype have jumped on the Snapchat bandwagon as far as the look of some new features they’re rolling out. Wall Street has been concerned with Snapchat’s slow growth and the recent 22% decline in app downloads. These concerns are driven by the Instagram assault as well as Snapchat’s less than convincing business model. The company has been on a small acquisition spree to help it bolster its capabilities for marketers. The company’s recent presence at this year’s Cannes Lions was ironically popular on Instagram because of the massive yellow ferris wheel it erected. The company also landed a major $100 million deal with media giant Time Warner for its original shows which many see as a lifeline for the app.
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