Snapchat growth slowed significantly after the launch of Instagram Stories

Snapchat seems to have hit a bit of a wall. In early 2016, Snap was unstoppable. Between the fourth quarter of 2015 and the third quarter of 2016, the service added 46 million average daily active users — pushing its total to 153 million active users per day. And then Q3 happened. In the beginning of Q3, Instagram released a new feature that looked curiously like the one Snapchat had been poaching millennials with for the past three years. User acquisition slowed… considerably. Between the launch of Instagram Stories and Snapchat’s IPO filing (a full quarter), Snapchat managed to add just…

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