When Snapchat’s parent company Snap warned potential investors about its business facing “significant competition” one name immediately sprang to mind: Facebook. The world’s largest social networking company poses a huge risk to Snap’s future success as it competes with the latter’s breakthrough app on several fronts.
Not only is Facebook unchallenged in terms of its nearly universal reach, the company also seems adamant to let itself be “inspired” by its arising competitor Snapchat. Starting with the introduction of Instagram Stories in August 2016, Facebook introduced many new functions to its apps recently that are eerily reminiscent of Snapchat’s most beloved features.
With Instagram, WhatsApp, Messenger and Facebook’s namesake platform, Mark Zuckerberg’s company is attacking Snapchat from all sides. Considering the size of Facebook’s user base and financial power, it’ll be interesting to see how Snap manages to fend off its personal Goliath.