Snapchat has been losing users. This quarter was no exception with 2 million daily users lost. The problem Snapchat states is Android users.
Snapchat has been working on the new version for over a year now it claimed. Yet, users have yet to see an updated version for public user. Previously Snapchat released an update last year that was beyond confusing for most users. The people you follow became more difficult to fine. The sponsored stories took over a larger presence to increase ad revenue. Even losing users Snapchat still generates 14% more revenue up to $298 million.
Snapchat CEO Evan Spiegel was quoted as saying:
“Quality takes time,” he said. “We want to make sure we have the right foundation…we’re going to wait until we get it right.”
Time will tell the fate of Snapchat. Let’s hope they get that it out sooner or later.