Alva Review-Courier -

By Barbara Ortutay
AP Technology Writer 

Snapchat's not-growing pains are a boom for Instagram

 

August 11, 2017



NEW YORK (AP) — Facebook once failed to buy Snapchat; ever since, it's tried to copy it, mostly without success.

Until now. Facebook's Instagram Stories, a clear Snapchat clone, has more daily users than Snapchat itself — and parent company Snap Inc. should be very worried.

Snap's latest earnings report isn't helping either. On Thursday, the company said user growth for the April-June period was a paltry 4 percent from the previous quarter.

Snap's stock, already down 44 percent since its initial public offering in May, declined 14 percent, to $11.90, in extended trading after the result...



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