Instagrams story feature has now hit 300 million daily active users which is almost double to those of Snapchat’s equivalent. This is a huge achievement as Instagram Stories was not expected to dominate over its rival Snapchat for quite some time. Mark Zuckerberg, founder of Facebook announced the news at its recent earnings call as this is exactly the type of news investors like to hear.
Instagram have updated ‘Stories’ with many new features over the last few months to help it lure users from the Snapchat platform. This has clearly worked as in mid-June, Instagram announced that it was at 250 million daily active users, meaning they have jumped 50 million users in just under 6 months. Instagram has shown its star power over the years but can Snapchat still innovate to rival it? Only time will tell.