S&P 500
7,507.80
-0.22%
Dow Jones
51,595.40
-0.32%
Nasdaq 100
30,411.80
-0.23%
Russell 2000
2,975.48
-0.09%
FTSE 100
10,384.80
-0.34%
Nikkei 225
71,987.20
+0.02%

Apps & Software

Facebook’s Instagram Now Claims More Users Than Twitter

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

marriage

fotopedia
In a blog post on its website Wednesday, photo and video app Instagram announced that it had surpassed 300 million active users. As well as touting the 70 million photos and videos that its users share every day, Instagram, which was acquired by Facebook Inc. (NASDAQ: FB) for $1 billion in 2012, says it has been deactivating “spammy accounts” in an effort keep the Instagram experience “authentic.”

This is not good news for Twitter Inc. (NYSE: TWTR), which claimed to have 271 million active users when it reported quarterly results in October. Eyeballs are the metric that drives revenues and valuations, and Twitter’s growth has slowed significantly this year. The company’s stock price has fallen more than 40%, an amount about equal to the concomitant rise in Facebook’s stock.

But both Twitter and Instagram face a new challenge from Snapchat, an app popular with teens and young people because photos and messages sent via the app disappear after viewing. The app is also not as widely used by parents as Facebook or even Twitter, adding to its appeal.

Snapchat is viewed primarily as a bigger threat to Twitter than to Instagram/Facebook. The small company has focused on developing video “stories” around all sorts of sports and other events that are almost a separate, curated video channel. Advertisers are following and that does hurt Twitter and its “curated timelines.”

Twitter’s stock was down about 1.3% Wednesday afternoon, at $36.55 in a 52-week range of $29.51 to $74.73.

Facebook’s shares were up 0.2%, at $77.00 in a 52-week range of $49.01 to $81.16.

ALSO READ: Twitter to Track Apps for Ad Targeting

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Paul Ausick |

More Rumors That Google Is Buying Twitter

Renewed chatter that search engine giant Google is once again looking at acquiring Twitter pushed shares of the latter to…

17 Twitter Competitors: What Share Of Social Media Does It Have?
Mike Edmisten |

17 Twitter Competitors: What Share Of Social Media Does It Have?

Social media has become part of our daily lives. It is our go-to medium to find out what’s trending, scroll…

How New Use for AR May Lift Snap Stock
247sarah |

How New Use for AR May Lift Snap Stock

Snapchat’s augmented reality technology could change analysts’ and investors’ views of Snap stock.

How Facebook Is Blowing Snapchat Out of the Water
Chris Lange |

How Facebook Is Blowing Snapchat Out of the Water

Snap shares took another step closer to an all-time low on Tuesday after Facebook reported that its photo-sharing app now…

Can Snapchat Really Compete With Facebook?
Chris Lange |

Can Snapchat Really Compete With Facebook?

Facebook is notorious for taking from other platforms and working them to its own. In fact this social media giant…

Would Snap Merger With Twitter Solve Many Problems?
Douglas A. McIntyre |

Would Snap Merger With Twitter Solve Many Problems?

The two also-rans of social media have lost ground by standing still as competition grows. Could a merger of the…

cgblaine22 |

The Buy vs. Sell Analyst Case for Facebook — and Twitter Too!

courtesy of Facebook Inc.There is a debate among some analysts over whether Facebook Inc. (NASDAQ: FB) is worth buying or…

Facebook’s Instagram Burying Snapchat
Paul Ausick |

Facebook’s Instagram Burying Snapchat

Snapchat's user base of 173 million trails far behind the total of 800 million Instagram users. The younger company with…

This Is the Biggest Social Media Platform: Ranking the World’s Largest Networking Sites
Hristina Byrnes |

This Is the Biggest Social Media Platform: Ranking the World’s Largest Networking Sites

Social media has exploded into a global phenomenon over the last 15 or 20 years. Once mostly a way for…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230