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Snapchat has lost subscribers for the first time

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Between the first and the second quarter of 2018, three million of daily users have abandoned the application.

It is unheard of for the social network Snapchat. The application, created in 2011, has lost 2% of active subscribers daily between the first and the second quarter of 2018. They are now 188 million to connect every day, compared with 191 million previously announced the parent company Snap on Tuesday.

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Since its ipo in march 2017, the number of subscribers had increased. On a year, subscribers daily active are also 8% more than in the second quarter of 2017.

A new interface

Snapchat, popular with teens for its messages and videos temporary, has been hit hard by the competition of Instagram, which has copied a large part of its functionality in the last two years. The app, owned by Facebook, which accounted for 400 million users according to figures released in June.

Nevertheless, the company’s CEO, Evan Spiegel, attributed primarily this decrease is due to the new interface of the application implemented at the beginning of the year. Very much maligned by users – to the point that Snapchat is back on some features, it should be capable of gain the loyalty of subscribers to be older and better target subscribers.

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Despite these disappointing figures, Snap has posted satisfactory financial results. The group has still recorded a loss of $ 353 million, but significantly reduced compared to 443 million registered in the same period of last year. Snap has also received a breath of fresh air in the form of an investment of 250 million dollars from the saudi prince Al-Walid bin Talal, who has made public Tuesday, the purchase of 2.3% of the share capital of the group.

At the same time, the company, which recently launched the “Snappables”, glasses that are connected aimed at sharing experiences of augmented reality, announced a turnover increase of 44%, 262,26 million, better than expected by the markets. And for the third quarter, the group expects to have a turnover of between 265 million and $ 290 million.

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