Snapchat And Facebook: Snapchat CEO takes the stage to discuss the company’s prospects of competing with Instagram in the short term. And also about the antitrust activity by the government, its impact, and importance.
Evan Spiegel at an event powered by Techchrunch said, “I mean the history of antitrust would basically say that these investigations last like seven to 10 years or something like that and that basically nothing happens. I think a lot can change in the seven to 10 years that this process will take.”
Though Evan Spergel wasn’t convinced with the idea of investigation, as it takes a lot of time. And in that much time, many things change. He believed that the process will not give Snap a more level playing field to take on Facebook. He did show concern about how Facebook was responding to the competition. Also emphasized the effects of such activities in public.
Snapchat And Facebook: In recent times, Facebook has reportedly pushed back against the calls to a split up between Instagram and WhatsApp. They also argued that it won’t help in solving the issue of privacy and election meddling.
Evan Spiegel, the CEO, and co-founder of Snap said that it’s “really hard to say that breaking up the world’s largest social network would benefit society”. Responding to it, he said, “I think the things that would benefit society are real product changes that they would make to their platform”.
The real picture
Snapchat And Facebook : The issue of antitrust and anti-competitive practices took pace when Facebook tried to copy some of the flagship features of Snapchat. Facebook and Instagram both rolled out features of putting Stories for 24 hours. Also, he alleged that Instagram and Facebook restricted users from sharing Snapchat content.
Responding to the allegations, Facebook spokesperson challenged Spiegel by saying that, “The allegation that we block links or hashtag searches because they are from competitors is simply false. Typically it’s because a hashtag is violating our content policies, like if a hashtag contains many pornographic images”.
These activities has also led to a decline in the popularity of Snapchat. Their shares have seen fall over 7 percent, which is the lowest in last 4 months. And on the other hand Facebook, however, experienced a 2.4 percent increase to a one-week high.
Snapchat has faced lots of ups and downs since it went public in 2017. They are trying to rope in more users with their new AR features. They have been kept on trying new and unique techniques to cover more and more crowds socially. Also in August, the company rolled out the third version of its AR sunglasses Snapchat Spectacles. Spiegel said, “ We are moving ahead, these features prove our intentions“. To know more continue with techhundred.