22 July 2017
A while ago, Mark Zuckerberg offered $3 Billion Dollars to buy Snap Inc. from Evan Spiegel but his offer was refused.
Evan Spiegel who’s just 25-years-old had first received an email from Zuckerberg in 2012 concerning Snapchat before it went viral.
Below is a snapshot of the email:
After Snapchat rejected Zuckerberg’s buyout offer, Mark decided to bring the game to them, placing business on level terms.
Mark took one of the features that made Snapchat stand out and expanded it to more people on his own platforms.
The first blow to Snapchat was kicked off on Instagram which has over 600 million monthly active users, compared with Snapchat’s 150 million daily users.
Instagram launched its own Instagram Stories just eight months ago and has already hit that same 150 million daily-user level.
The direct connection with Instagram and Facebook helped Instagram to reach that feat in such a short time. This reduced Snapchat’s growth from 12% to 3%.
Snap Inc. might have thought it might just stop at Instagram but Mark wasn’t still satisfied with the results, he decided to open up the floodgates.
The stories were added on Facebook Messenger and Whatsapp, which have billions of users.
Also the stories are also coming to the main Facebook app as well. Snapchat still has a few perks Facebook hasn’t copied yet but may soon copy.
If Snapchat doesn’t do anything, anytime soon is will become a place we all once knew.
Let’s keep our fingers crossed and see what Snap Inc. Comes up with to save their social network. Hopefully we won’t see them doing this in a short while