It's no secret that there's been some major ~upheaval~ in the land of Snapchat over the past year, hence the hectic new update.
The popular social media tool reported a $258,966,285 loss in 2017 which may be attributed to the fact that both Instagram and Facebook have added the 'story' feature which is Snapchat's primary function.
And according to a business insider, the powers that be at Snapchat are V. ~secretive~ about their brand info and have been trying to keep their company data on the down low.
“Evan [Spiegel, the company’s CEO] is paranoid and they go ballistic when there’s a leak," says a former employee, according to The Daily Beast.
Said data includes the performance of Snapchat's features, for example, Snapchat was created as a pic and video sharing app but research proves that people are most engaging with the chat function.
“It’s clear that Snapchat is gaining on the personal communication part [messages] but struggles on the Story part,” said Thomas Cilius, CEO of Snapchat analytics firm Snaplytics, after reviewing the data.
The Story function is also down, according to research by TDB. In August, users were 64 percent more likely to send a snap to a friend than post to Stories and sent an average of 34 chat messages per day.
Also, despite being introduced as the 'ultimate tool for meeting up with friends IRL', the Snap Map hasn't been popular with users.
“They talk about this place being a rocket ship,” a current employee said. “A few people who have left have jokingly called it the Titanic. Personally, I think it’s more like a roller coaster. The highs are high and the lows can feel low.”
Snapchat is reportedly struggling to grow its user base and its stock price has been shocking, with its price declining from a high of $27.09 a share shortly after going public to $13.92 per share on January 8.
“If DAUs go down or stay flat, the stock could go under $10,” one former employee said. “I feel like if that happens most people at the company will just quit. I know several friends already looking to get out.”
Snapchat's Discover Edition is also at an all-time low with only an average of 20 percent of Snapchat users clicking on the content daily.
The insider stated that if the brands who pay to have their articles included on Snapchat knew the true data, they would defs "abandon the platform".
In light of all these dramz, the higher ups called for a major redesign which is why everything changed this week, but unforch people aren't to pleased with the changes.
Is the public's streak with Snapchat about to break forever?