The last quarter earnings missed the expectations. The company is struggling to attract new users. Snapchat has been plagued by the criticism that the app is just too difficult to navigate and is not intuitive enough for its users.
Things may change now. Snapchat has begun to push the redesign to its users since Wednesday. The CEO promised that the app would be easier to use. Whether this is true, it will be up to the Snapchat users to decide.
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?
Snapchat is now down nearly 50% year to date.