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Snapchat Update Lost Them 3 Million Daily Active Users

Back in May, Snapchat decided that their app needed a bit of freshening up and as such, they released a brand new update. Put simply, it wasn’t received well at all. Many users hated the seemingly unnecessary changes and it even led to an online petition gaining over 1.2 million signatures for them to roll is back to the previous version.

Despite this, the bosses remained stubbornly firm. The new version was here to stay, get used to it! A few weeks later and they finally decided to at least meet the fans in the middle by rolling back some of the more contentious changes. It seems, however, that this initial refusal to budge has cost the app quite a significant number of users!

User Figures Drop

In a report via TheVerge, Snapchat has revealed that the number of daily active users has dropped from 191 million to 188 million. Admittedly, the numbers are still extraordinarily high, but it does also reveal that at least 3 million people either care less for the app than they used and as such visit less regularly or worse, they have simply quit it!

Despite this though, it’s not all bad news for the app. Saudi Prince Alwaleed Bin Talal has just purchased a 2.3% share stake in the company and as such, Snapchat has a nice new cash injection to help it try and figure out the best way to move forward.

Users Drop But Revenue Grows

While this isn’t great news for user figures, Snapchats revenue does continue to grow. This has seen year on year revenue increase to 44% in 2018. Not a bad time to invest really if these trends are set to continue. Well, unless, of course, millions of more users drop off. At this point though, I think it’s fair to say that 3 million was the fallout from the update.

What do you think? Do you still use Snapchat? If not, did you quit because of the update? – Let us know in the comments!