Instagram is the latest Facebook property to add such functionality to its “Stories” feature, and also the most popular. The company’s Stories tool, also borrowed from Snapchat, allows people to post photos or videos of their lives that last for only 24 hours. More than 200 million people use Instagram stories daily, compared with Snapchat’s 166 million users total.
According to Bloomberg, Snap shares fell last week after the company added fewer users than projected in the first quarter, and as quarterly revenue fell short of analysts’ estimates. Facebook has copied Snapchat’s features broadly across its social apps.
Facebook Chief Executive Officer Mark Zuckerberg has said camera tools like face filters will be a major strategy this year as a stepping stone to an augmented reality world. When asked about Facebook’s competition on an earnings call last week, Snap’s CEO Evan Spiegel said the app’s creativity sets it apart from the competition, dismissing the threat.