Here’s Why Snapchat’s in Trouble

Here’s Why Snapchat’s in Trouble

 URL: https://fortunedotcom.files.wordpress.com/2017/05/snapchat-broken-glass.jpg Date Obtained: 11/8/17 Credit: FORTUNE

URL: https://fortunedotcom.files.wordpress.com/2017/05/snapchat-broken-glass.jpg
Date Obtained: 11/8/17
Credit: FORTUNE

On Tuesday, Snapchat announced that it is “planning a total overhaul”. This is a big risk because there’s no telling how users will react to the new Snapchat, especially those loyal to the current design. Snapchat isn’t getting as many new users as was initially projected (only 178 million versus expected 180.5 million), and its shares have fallen 22%. Another odd thing about the app is their advertising strategy, which analysts have long been skeptical of. Their competition, namely Facebook and Instagram, have started to use Snapchat’s features, like Stories, and companies like Apple and Microsoft have started trying Augmented Reality, which Snapchat helped pioneer. Changes to Snapchat may include data analysis to personalize content.

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