First Facebook did “Facebook Live” which looks awfully similar to Periscope, even has the little hearts floating around. Now today, Tuesday August 2nd, Instagram (owned by Facebook) has introduced “Instagram Stories”, which is basically like “Snapchat Stories” looking in the mirror! If you aren’t familiar with Snapchat, it is the Social Media Platform that lets you share photos and videos with selected friends, then they disappear after 24 hours…and now you are up to date with how Instagram Stories works as well (for the full Promotional Video, scroll to the bottom of the page).
This isn’t the first time that a company has repeated another company’s product. It does stick out a little more though since Facebook has a history of trying to match Snapchat features. The CEO, Mark Zuckerberg, even tried to buy Snapchat in 2013 for $3 billion (keep reading to find out how much Snapchat is worth TODAY).
What Does Instagram Have to Say?
Well at least Instagram admitted to being a copycat – Although Snapchat wasn’t mentioned by name in an interview about Instagram Stories, Kevin Systrom (CEO of Instagram), referred to “competitors” and acknowledged that “other companies deserve all the credit” for making disappearing photos and videos popular.
Our mission has always been to capture and share the world’s moments, not just the world’s most beautiful moments. Stories will alleviate a ton of the pressure people have to post their absolute best stuff.
– Kevin Systrom
Snapchat was created as a private messaging service back in 2011. The idea of being able to share unflattering photos with friends had younger audiences flocking to it, knowing that it would just stay live for a few seconds without haunting them later on for their parents or an employer to find.
Snapchat has come a far way, with 150 million users that visit the app daily and now being valued at $19 BILLION (I knew you would want to keep reading), it is a threat to Facebook & Instagram. It has released a number of advertising products, including facial recognition ads, which brands have been eager to experiment with.
Will this move ignite a head-to-head battle between Instagram & Snapchat? What does this mean for Snapchat? Only time will tell. In the meantime, here are funny Tweets by Snapchat Employees (Provided by Business Insider):
Jack Brody, a product designer at Snapchat, likened Instagram’s move to Melania Trump’s plagiarized speech:
Step 1: Open Snapchat, Step 2: Use Snapchat Stories instead, Step 3: uninstall Instagram
— Jack Brody (@jackdbrody) August 2, 2016
Tobias McGuigan, another employee, busts out some solid hashtag-sarcasm:
congratulations to the team at instagram. true #innovation
F’real tho I respect Insta but… dang
— Tobias McGuigan (@tobiasmcg) August 2, 2016
Nick Allen, who works on product at Snapchat, references a previous tweet from last month, calling out Facebook’s Quick Updates, a Snapchat-like product that Facebook was testing:
See previous tweet:
It’s basically a seasonal event now:
***Snapchat – The Company has declined to comment on the similarities as of right now***