Snap Has Morphed Into a Major Facebook Competitor

Thursday was a big day for Snap (NYSE: SNAP), the parent company of photo- and video-sharing social media platform Snapchat. The company said its monthly active users crossed 500 million for the first time.

While the figure is a far cry from the billions of monthly active users Facebook (NASDAQ: FB) has, the achievement is impressive given the fact that Snap has been up against some vicious competition: Facebook's Instagram.

Image Source: Snap.

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Source Fool.com