p Today Snap revealed that it now has 166 million daily users — 34 million fewer than Facebook’s Snapchat clone, Instagram Stories.
/p p Let’s recap how this happened: Facebook launched Instagram Stories in August 2016, a completely transparent effort to rip off the formula that made Snapchat a success (and slow down Snapchat’s growth in the process).
Facebook’s attempts to copy Snapchat usually fail — Poke, Slingshot, etc.
— but Instagram Stories took off.
/p p Investors were sweating over Snap’s growth last month after Facebook said Instagram Stories had reached 200 million users — way above the 158 million users Snapchat had in December.
Now it looks like they had good reason to worry.