San Francisco: With just $1.4 billion in its kitty at the end of third quarter results, the already struggling multimedia messaging platform Snapchat could even lose $1.5 billion in 2019, analysts have predicted. Snapchat lost nearly 2 million daily active users in the third quarter this year and now has 186 million daily users. “Snapchat could run out of money well before it’s projected to break even in 2020 or 2021,” TechCrunch reported on Sunday, quoting market research firm MoffetNathanson.
Snapchat’s daily active user's number shrank 1.5 per cent to 188 million in the second quarter of 2018, down from 191 million in the first quarter this year. It appears that Facebook-owned Instagram “Stories” has stalled Snapchat’s growth.
More than 400 million people use Instagram’s “Stories” feature daily to post photos and videos that disappear after 24 hours. WhatsApp’s Snapchat “Stories” clone called “Status” has also hit 450 million users. (IANS)