A little more than three months after its blockbuster IPO, it has gotten relatively quiet around Snap. Even after reporting less than stellar first quarter earnings last month, the company’s stock price never dropped below the IPO price of $17.
There remains a bit of skepticism regarding the company’s long-term outlook though and not everyone is convinced that Snapchat’s popularity among Millennials justifies its parent company’s $20+ billion valuation. Aside from the obvious threat that Facebook (including Instagram) poses to Snap’s long-term success, marketers have yet to fully embrace Snapchat.
According to a recent report by the Social Media Examiner, just 7 percent of marketers used Snapchat in the first quarter of 2017, which is worlds apart from Facebook’s 94 percent adoption rate. But even Twitter, Instagram and Pinterest are used by a significantly larger portion of the 5,700 marketers taking part in the survey.