Facebook Introduces New Snapchat-like Feature

May 17, 2017 Updated: May 17, 2017

Instagram, owned by Facebook, has rolled out face filters, a feature first offered by Snapchat. The application now has eight different filters, including crowns, furry koala ears, and math equations that spin around the head.

Instagram has been enhancing its camera tool to take on rival Snapchat and has recently added features like Instagram Stories, which allows users to upload short videos and photo collections that disappear after 24 hours.

Facebook announced that the Stories feature now has 200 million daily active users, topping Snapchat’s daily active user base of 166 million people.

Snapchat’s parent company Snap Inc. announced a $2.2 billion loss and slowing growth in the first quarter of this year. The shares of the company have been on a roller coaster since its initial public offering on March 1.

The number of daily active users on Snapchat was up 36 percent compared to the same period last year, but was still below market expectations.

“We expect pressure on the stock to continue near term as the 1Q17 [first quarter 2017] report did little to address investor concerns over the growth outlook for users,” wrote Citi equity research analyst Mark May, in a report.

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