- Jan 6, 2017
- 835
Snap Inc (SNAP) no Longer a Top 10 iOS App Store app.
For the first time all year, popular yet potentially dubious messaging and image-sharing app Snapchat, fell out of the top 10 in the iOS App Store rankings. Without a lot of information as to what could have caused that drop–ie, smaller fan base, some new app that’s all the rage–it’s just speculation as to what’s behind the fall, but there are some possible indicators.
Sarah Perez for TechCrunch points to a possible Instagram link, with the platform’s addition of both Stories and constantly updated fun features like Stickers. “Perhaps all that Instagram cloning is finally catching up with it? After all, Facebook recently announced that both Instagram Stories and WhatsApp Status now have 300 million daily active users – or nearly twice the size of Snapchat.”
Snap Inc (SNAP) falls out of the iOS top 10 for first time this year
Issues
Snapchat has had its share of issues, of course, that can cause public perception to go the wrong way. The fact that parents were warned early on to keep this app off their kids’ phones due to sexting and privacy concerns could have hurt the company, but with kids being kids, it probably actually helped the app gain popularity. What followed, though, were a few very serious data breaches, including a successful boss phishing attempt that compromised the complete personal identifiable information of the company’s employees. Those events don’t bode well for investors, and a significant drop like this one could cause some concern.
Grain of salt
However, StockNews.com points out why it’s far too early for investors to be concerned about something as unsubstantial as the App Store ranking. “Investors should take this rankings drop with a grain of salt, however. Many things — including short-term surges by competitor apps — can cause a single app like Snapchat to fall quickly. Snap actually plunged all the way to #33 in the App Store back in late August, according to App Annie, but the next day it jumped back up to #7.”
For the first time all year, popular yet potentially dubious messaging and image-sharing app Snapchat, fell out of the top 10 in the iOS App Store rankings. Without a lot of information as to what could have caused that drop–ie, smaller fan base, some new app that’s all the rage–it’s just speculation as to what’s behind the fall, but there are some possible indicators.
Sarah Perez for TechCrunch points to a possible Instagram link, with the platform’s addition of both Stories and constantly updated fun features like Stickers. “Perhaps all that Instagram cloning is finally catching up with it? After all, Facebook recently announced that both Instagram Stories and WhatsApp Status now have 300 million daily active users – or nearly twice the size of Snapchat.”
Snap Inc (SNAP) falls out of the iOS top 10 for first time this year
Issues
Snapchat has had its share of issues, of course, that can cause public perception to go the wrong way. The fact that parents were warned early on to keep this app off their kids’ phones due to sexting and privacy concerns could have hurt the company, but with kids being kids, it probably actually helped the app gain popularity. What followed, though, were a few very serious data breaches, including a successful boss phishing attempt that compromised the complete personal identifiable information of the company’s employees. Those events don’t bode well for investors, and a significant drop like this one could cause some concern.
Grain of salt
However, StockNews.com points out why it’s far too early for investors to be concerned about something as unsubstantial as the App Store ranking. “Investors should take this rankings drop with a grain of salt, however. Many things — including short-term surges by competitor apps — can cause a single app like Snapchat to fall quickly. Snap actually plunged all the way to #33 in the App Store back in late August, according to App Annie, but the next day it jumped back up to #7.”
