‘Stories,’ The New Product Launched by Instagram to take on Snapchat

‘Stories,’ The New Product Launched by Instagram to take on Snapchat

Instagram launches ‘Stories,’ a product to take on Snapchat

Instagram on Tuesday launched a product designed to directly take on emerging rival Snapchat. The product, called “Stories” appears directly inside Instagram’s app.

Snapchat, which was recently valued at $22.7 billion in May, is increasingly seen as a viable threat by Facebook — which owns Instagram — because of how the start-up is increasingly dominating the attention of younger users.

The social media giant tried to buy Snapchat more than three years ago for $3 billion, which CEO Evan Spiegel turned down.That hasn’t ended Facebook’s attempts to imitate the company, whose app has become extraordinarily popular among young people for its ephemeral videos.

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