Earlier this year, Snap Inc. made the decision to reinvigorate its Snapchat userbase with a far-reaching redesign. In a stunning development, the redesign cost Snapchat millions of users during last quarter.
Snap revealed that after the redesign, Snapchat’s user base shrank 2-percent. That dwindled its total users base from 191 million to 188 million, down a stunning 3 million daily active users in what is now being considered one of the biggest redesign blunders.
Making matters worse, Instagram continued to expand vigorously with well implemented features like Instagram TV, putting an even bigger spotlight on Snap’s redesign gaffe. During a earnings call today Snap CEO Evan Spiegel opened up about the whole ordeal and tried to put the focus on a bright future.
“We feel that we have now addressed the biggest frustrations we’ve heard and are now eager to make more progress on the tremendous opportunity we now have to show more of the right content to the right people,” Spiegel said.
With Instagram essentially winning the Stories war, Snap will now try to establish its place in a market where it can still be profitable and remain relevant.