Instagram Snaps Up Rivals' Users
Instagram on Wednesday announced that it had reached a milestone of 700 million members while enjoying the fastest-ever growth rate in the company's history. The network has grown by more than 100 million members in the last four months, Instagram reported, although it took six months to accomplish its previous 100 million member increase. The increased growth rate can be credited to new features like Stories, live video and disappearing messages in Direct, the company said. "Ostensibly copied from Snapchat, the feature was significant in driving the ephemeral messaging app to an IPO," said Zach Fuller, an analyst at Midia Research . "Yet since Instagram copied Stories, Snapchat's user growth has slowed to 82 percent," he told the E-Commerce Times, "whilst Instagram has continued to thrive." Instagram last summer launched its Stories feature, which allows users ...
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