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.

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