The current quarter earnings missed the expectations. The future does not look bright either. The company is struggling to attract new users. Its app is not easy to use compared to Facebook or Instagram.
Social media is a very crowded battle field. The competition is fierce. Seriously, how many social accounts can one manage on a daily basis without spending all your free time on social media?
I have Facebook and Line, and I am overwhelmed already.
Snapchat was only up once the day after its debut. It's been down and down further ever since then. It is now down nearly 50% year to date.