Snap Struggles to Become a Real Business
The social media landscape has changed dramatically over the past few years. TikTok, owned by Chinese tech company ByteDance, has grown into a behemoth. The video-sharing app is particularly popular with younger users, drawing them away from other platforms.
Surprisingly, TikTok's success hasn't impacted 's (NYSE: SNAP) ability to attract users to SnapChat. The company reported daily active users (DAUs) of 397 million in the second quarter, up 14% year over year, and users have tripled the amount of time using its TikTok-like Spotlight feature.
While Snap continues to be a popular and growing platform, the company has historically struggled to translate users into revenue and profit. That trend continued in Q2.
Source Fool.com
Snap Inc Stock
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