It seems like no one can go out to eat these days without extensively documenting what they ate and with whom they ate it. Many smartphone users posted their eggs Benedict and videos of mimosa toasts to Snap (formerly known as Snapchat), the popular photo and video sharing app that deletes content after 24 hours.
But now there’s stiff competition in the social media world: Instagram’s knockoff has more users than the original.
According to Instagram, the photo and video sharing app’s “Stories” feature — which essentially mimics Snapchat by deleting content posted there after 24 hours — has over 200 million daily users. According to Snap, at the end of last year that company had 161 million daily users. People visit the site an average of 18 times each day, but its growth slowed at the end of last year, an indication that Instagram Stories may be cutting into its market share.
On Thursday, Instagram Stories rolled out additional stickers and the ability to pin a sticker to one spot in a video, features that mimic the ability of Snap. Instagram’s app also released “geostickers,” or stickers with city names that are generated by users in a particular place based upon GPS.
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Facebook bought Instagram in 2012 for $1 billion. The purchase took place a month before Facebook’s initial public offering, which was priced at $38 per share.
Although it had a $515 million loss last year, Snap debuted publicly on the New York Stock Exchange earlier this year and started trading at $24 a share. The company was known as a “unicorn,” or a privately-held company valued at $1 billion or more.