And that elephant is named Instagram, Bloomberg reports. Ahead of its IPO next week, on Tuesday investors at the company’s roadshow presentation in New York voiced concern over the future of Snapchat’s user growth, given that Facebook-owned Instagram has been so successful in cloning Snapchat’s time-limited video sharing features. The investors worry that Instagram is the reason for Snapchat’s recent slowdown in new users, and not, as Snap insists, a product issue with the Android Snapchat app. One thing investors did like, however, was when Snap CEO Evan Spiegel said that the company is open to building its own data centers in the future.
collections
NewslettersInnovation FestivalCurrent IssueRecommender
The apps, books, movies, music, TV shows, and art are inspiring our some of the most creative people in business this month
Strong Female Lead
The struggles and triumphs of prominent women in leadership positions
Platform Wars
The major tech ecosystems that battle for our attention and dollars
Tech Forecast
What’s next for hardware, software, and services
Most Innovative Companies
Our annual guide to the businesses that matter the most
Most Creative People
Leaders who are shaping the future of business in creative ways
World Changing Ideas
New workplaces, new food sources, new medicine--even an entirely new economic system
Innovation By Design
Celebrating the best ideas in business
FastCo.Works Studio
An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company's distinctive lens